Published on 9/27/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $15.51 million more range accrual notes linked to six-month Libor, S&P 500
By Susanna Moon
Chicago, Sept. 27 - Barclays Bank plc priced another $15.51 million of callable range accrual notes due Sept. 29, 2025 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total issue to $16.01 million, up from $500,000.
Interest will accrue at 8% per year on each day that six-month Libor is 7% or less and the S&P 500 closes at or above 875. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning on Sept. 29, 2011.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable range accrual notes
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Amount: | $16,013,000, up from $500,000
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Maturity: | Sept. 29, 2025
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Coupon: | 8% for each day that six-month Libor is 7% or less and S&P 500 closes at or above 875; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning Sept. 29, 2011
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Pricing dates: | Aug. 31 for $500,000, Sept. 24 for $15,513,000
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Settlement date: | Sept. 29
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Agent: | Barclays Capital Inc.
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Fees: | 4%
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Cusip: | 06740PQA7
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