Published on 11/28/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $850,000 knock-out buffered notes tied to 15 stocks
By Jennifer Chiou
New York, Nov. 28 - Barclays Bank plc priced $850,000 of 0% knock-out buffered notes due June 3, 2013 linked to a basket of common stocks and American Depositary Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes the common stocks of Pfizer Inc., Deere & Co., PepsiCo, Inc., Yum! Brands, Inc., Apple Inc and Philip Morris International Inc.; the class A common stock of Google Inc.; and the American Depositary Shares of Unilever plc, Total SA, BP plc, Siemens AG, Vodafone Group plc, Anheuser-Busch InBev SA/NV, HSBC Holdings plc and BHP Billiton Ltd.
If the final basket level is less than the initial level by more than 22%, the payout at maturity will be par plus the basket return, with full exposure to losses. Otherwise, the payout will be par plus the greater of the basket return and 3%.
Barclays Capital Inc. is the agent, with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as the distributors.
| Issuer: | Barclays Bank plc
|
| Issue: | Knock-out buffered notes
|
| Underlying stocks/ADS: | Anheuser-Busch InBev SA/NV, Apple Inc., BHP Billiton Ltd., BP plc, Deere & Co., Google Inc., HSBC Holdings plc, PepsiCo, Inc., Philip Morris International Inc., Pfizer Inc., Siemens AG, Total SA, Unilever plc, Vodafone Group plc and Yum! Brands, Inc., equally weighted
|
| Amount: | $850,000
|
| Maturity: | June 3, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket falls by more than 22%, par plus basket return, with full exposure to losses; otherwise, par plus greater of basket return and 3%
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 29
|
| Agents: | Barclays Capital Inc.
|
| Fees: | 1.25%
|
| Cusip: | 06738KZW4
|
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