Published on 12/20/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $27.66 million buffered return enhanced notes tied to commodities basket
By Jennifer Chiou
New York, Dec. 20 - Barclays Bank plc priced $27.66 million of 0% buffered return enhanced notes due Dec. 19, 2013 linked to a basket of commodities and a commodity index, according a 424B2 filing 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 202% of any basket gain, capped at a return of 30.3%. 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.
Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as distributors.
Issuer: | Barclays Bank plc
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Issue: | Buffered return enhanced notes
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Underlying assets: | Brent crude, platinum, copper and the S&P GSCI Grains Index Excess Return, equally weighted
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Amount: | $27,658,000
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Maturity: | Dec. 19, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 202% of any basket gain, capped at 30.3%; par for losses up to 20%; investors share in losses beyond the buffer at a rate of 1.25% per 1% decline
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Initial levels: | $103.35 for Brent crude, $1,424 for platinum, $7,340 for copper and 37.85648 for the S&P GSCI Grains Index Excess Return
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agent: | Barclays Capital Inc. with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as distributors
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Fees: | 1.5%
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Cusip: | 06738KD65
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