Published on 1/27/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $11.37 million buffered PLUS tied to S&P 500
By Jennifer Chiou
New York, Jan. 27 - Barclays Bank plc priced $11.37 million of 0% buffered Performance Leveraged Upside Securities due Jan. 30, 2013 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, subject to a maximum return of 18.14%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% decline beyond 10%.
Morgan Stanley Smith Barney LLC and Barclays Capital Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $11,365,000
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Maturity: | Jan. 30, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at 18.14%; 1% loss for each 1% drop beyond 10%
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Initial index level: | 1,291.18
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Pricing date: | Jan. 25
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Settlement date: | Jan. 28
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Agents: | Morgan Stanley Smith Barney LLC and Barclays Capital Inc.
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Fees: | 2.25%
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Cusip: | 06740H195
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