By Susanna Moon
Chicago, Dec. 5 - Barclays Bank plc priced $3.61 million of 0% knock-out notes due Dec. 9, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index ever exceeds the barrier level - 138% of the initial level - during the life of the notes.
If a knock-out event has occurred, the payout will be par plus the contingent return of 5%.
If a knock-out event has not occurred and the index return is greater than negative 3%, the payout will be par plus the index return.
If a knock-out event has not occurred and the index falls by 3% or more, the payout will be 97% of par.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $3.61 million
|
| Maturity: | Dec. 9, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index ever closes above barrier, par plus 5%; otherwise, if index return is greater than negative 3%, par plus index return; if index falls by 3% or more, 97% of par
|
| Initial index level: | 1,244.28
|
| Barrier level: | 1,717.11, or 138% of initial level
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 7
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 06738KA76
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
