By Angela McDaniels
Tacoma, Wash., June 29 - Barclays Bank plc priced $5.55 million of 0% double short leverage securities due June 28, 2013 linked to the Barclays Capital 30Y Treasury Futures index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes priced at 103.6 for total proceeds of $5.75 million.
The notes are putable at any time, subject to a minimum of 1,000 securities, and they will be called if the index increases by more than 35%.
The payout at maturity or upon redemption will be par minus 200% of the index return plus the additional amount and minus the investor fee. The notes are not principal protected.
The additional amount will be equal to the interest accrued on the principal amount at a rate per year equal to overnight Libor, compounded daily.
The investor fee will be zero if the final valuation date occurs in the first year, 0.85% if it occurs in the second year and 1.7% if it occurs in the third year.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
Issuer: | Barclays Bank plc
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Issue: | Double short leverage securities
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Underlying index: | Barclays Capital 30Y Treasury Futures index
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Amount: | $5,553,000
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Proceeds: | $5,752,908
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Maturity: | June 28, 2013
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Coupon: | 0%
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Price: | 103.6
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Payout at maturity: | Par minus 200% of the index return plus the interest accrued on the principal amount at an annual rate equal to overnight Libor, compounded daily, and minus an investor fee
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Call: | If index increases by more than 35%
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Put option: | At any time
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Initial index level: | 181.565
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 3.6%
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Cusip: | 06740LAX3
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