By Angela McDaniels
Tacoma, Wash., April 20 - Barclays Bank plc registered to sell up to $50 million of 0% iPath Pure Beta Aluminum exchange-traded notes due April 18, 2041 linked to the Barclays Capital Aluminum Pure Beta Total Return index, according to a 424B2 filing with the Securities and Exchange Commission.
A portion of the notes sold at par of $50 on the inception date, and the remainder will be sold from time to time at varying prices.
The notes are putable and callable at any time. Holders exercising their put options must put back at least 50,000 notes.
The payout at maturity or upon redemption will be the closing indicative value on the final valuation date. The closing indicative value was $50 on the inception date. On each subsequent date, it will equal the closing indicative value on the preceding calendar day times the daily index factor minus fees.
On any day, the daily index factor is the closing level of the index on that day divided by the closing level on the preceding business day.
The investor fee is initially zero and increases by an annualized rate of 0.75%. There is also a futures execution cost that is initially zero. It accumulates over time and is subtracted at the rate of 0.1% per year.
The company plans to list the notes on NYSE Arca under the symbol "FOIL."
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | iPath Pure Beta Aluminum exchange-traded notes
|
| Underlying index: | Barclays Capital Aluminum Pure Beta Total Return index
|
| Amount: | Up to $50 million
|
| Maturity: | April 18, 2041
|
| Coupon: | 0%
|
| Price: | Par of $50
|
| Payout at maturity: | Amount equal to closing indicative value on final valuation date; closing indicative value is initially $50 and on each subsequent date equals closing indicative value on preceding calendar day times daily index factor minus fees
|
| Call option: | At any time
|
| Put option: | At any time subject to minimum of 50,000 notes
|
| Inception date: | April 20
|
| Settlement date: | April 26
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06740P171
|
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