Barclays plans bearish notes tied to Radar Logic Residential Property

By Angela McDaniels

Tacoma, Wash., March 24 - Barclays Bank plc plans to price zero-coupon non-principal-protected bearish notes due Jan. 9, 2012 linked to the Radar Logic Residential Property index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10,000 multiplied by the sum of 96.2% - this is the expected percentage and might be changed at pricing - minus the index return.

The initial index level will be 193.98, which is the average of the index levels on the last five business days of 2009. The final index level will be the average of the last five business days of 2011.

The index is designed to reflect the median price per square foot of residential properties in 25 metropolitan statistical areas in the United States as averaged over rolling 28-day periods. The metropolitan areas are Atlanta; Boston; Charlotte, N.C.; Chicago; Cleveland; Columbus, Ohio; Denver; Detroit; Jacksonville, Fla.; Las Vegas; Los Angeles; Miami; Milwaukee; Minneapolis; New York; Philadelphia; Phoenix; Sacramento; San Diego; San Francisco; San Jose, Calif.; Seattle; St. Louis; Tampa, Fla.; and Washington, D.C.

Barclays Capital Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.