Published on 12/29/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $26.3 million buffered return enhanced notes on S&P 500 via JPMorgan
By Jennifer Chiou
New York, Dec. 27 - Barclays Bank plc priced $26.3 million of 0% buffered return enhanced notes due Jan. 11, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 10.5%. Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
JPMorgan Chase Bank, NA and JPMorgan Securities LLC are the agents.
Issuer: | Barclays Bank plc
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Issue: | Buffered return enhanced notes
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Underlying stock: | S&P 500
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Amount: | $26.3 million
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Maturity: | Jan. 11, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, capped at 10.5%; par if index declines by 10% or less; 1.1111% loss for every 1% decline beyond 10%
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Initial price: | 1,258.84
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Agents: | JPMorgan Chase Bank, NA and JPMorgan Securities LLC
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Fees: | 1%
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Cusip: | 06740PYM2
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