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Barclays plans buffered return enhanced notes on commodities basket
By Jennifer Chiou
New York, Nov. 16 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Nov. 21, 2013 linked to a basket of commodities and a commodity index, according an FWP with the Securities and Exchange Commission.
The basket includes equal weights of Brent crude, platinum, copper and the S&P GSCI Grains Index Excess Return.
The payout at maturity will be par plus 185% of any basket gain, capped at a return of 27.75%. Investors will receive par for losses up to 20% and will share in losses beyond the buffer at a rate of 1.25% per 1% decline.
The notes (Cusip: 06738KZN4) are expected to price on Nov. 18 and settle on Nov. 23.
Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as distributors.
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