Barclays plans to price one-year buffered notes on corn via JPMorgan

By Toni Weeks

San Diego, June 7 - Barclays Bank plc plans to price buffered notes due June 29, 2012 linked to the price of corn futures contracts, according to an FWP filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA and JPMorgan Securities LLC will act as agents.

If the commodity return is at least 2%, the payout at maturity will be par plus 1.85 times the commodity return, subject to a maximum return of at least 14.8% that will be set at pricing.

Investors will receive par at maturity if the commodity return is less than 2% and greater than or equal to negative 25%.

If the final price of corn declines from the initial price by more than 25%, investors will lose 1% for every 1% decline from the initial price of corn.

The notes (Cusip: 06738KLY5) are expected to price June 10 and settle June 15.

© 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.