Published on 8/17/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.52 million knock-in Super Track notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 17 - Barclays Bank plc priced $5.52 million of 0% knock-in Super Track notes due Aug. 9, 2013 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, subject to a maximum return of 45%. If the index return is between zero and negative 40%, the payout will be par. If the index return is less than negative 40%, the payout will be par plus the index return.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Knock-in Super Track notes
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Underlying index: | S&P 500
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Amount: | $5,516,000
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Maturity: | Aug. 16, 2013
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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, up to maximum return of 45%; par if final index level is less than or equal to initial level and greater than or equal to knock-in barrier; if index finishes below knock-in barrier, full exposure to the decline
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Initial index level: | 1,089.47
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Knock-in barrier: | 653.68, 60% of initial level
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Pricing date: | Aug. 13
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Settlement date: | Aug. 18
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Agent: | Barclays Capital Inc.
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Fees: | 0.1%
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Cusip: | 06740PME3
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