Published on 2/25/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million 10% digital notes linked to Russell 2000
By Marisa Wong
Madison, Wis., Feb. 25 - Barclays Bank plc priced $1.5 million of digital notes due Feb. 26, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the initial level on an annual observation date, interest will be equal to a digital coupon of 10%. Interest is payable annually.
If the final index level is at least 50% of the initial level, the payout at maturity will be par. Otherwise, the payout will be par plus the index return.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Digital notes
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Underlying index: | Russell 2000
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Amount: | $1.5 million
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Maturity: | Feb. 26, 2016
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Coupon: | If index closes at or above initial level on an annual observation date, 10%; payable annually
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Price: | Par
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Payout at maturity: | If final level is at least 50% of initial level, par; otherwise, par plus index return
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Initial level: | 799.65
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Barrier level: | 399.83, 50% of initial level
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Barclays Capital Inc.
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Fees: | 3%
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Cusip: | 06738KAK7
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