By Toni Weeks
San Diego, July 28 - Barclays Bank plc priced $2.99 million of 0% trigger return optimization securities due July 31, 2014 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket comprises the SPDR S&P 500 Exchange-Traded Fund Trust with a 30% weight, the iShares MSCI EAFE Index fund with a 30% weight and the iShares MSCI Emerging Markets Index fund with a 40% weight.
The payout at maturity will be par of $10 plus double any gain in the basket, subject to a maximum gain of 38.75%.
Investors will receive par if the basket declines by up to 25% and will be fully exposed to losses if the basket declines by more than 25%.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger return optimization securities
|
| Underlying funds: | SPDR S&P 500 Exchange-Traded Fund trust with a 30% weight, iShares MSCI EAFE Index fund with a 30% weight and iShares MSCI Emerging Markets Index fund with a 40% weight
|
| Amount: | $2,993,300
|
| Maturity: | July 31, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any gain the basket, with maximum gain of 38.75%; par if basket declines by up to 25%; full exposure to losses if basket declines beyond 25%
|
| Initial prices: | $133.36 for SPDR S&P ETF trust, $60.16 for MSCI EAFE and $47.69 for EM fund
|
| Pricing date: | July 26
|
| Settlement date: | July 29
|
| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06741K197
|
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