Published on 9/7/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.96 million step-up notes linked to Dax Price Return
By Angela McDaniels
Tacoma, Wash., Sept. 7 - Barclays Bank plc priced $5.96 million of 0% market-linked step-up notes due Aug. 30, 2013 linked to the Dax Price Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of 30% and the index return. Investors will be exposed to any index decline.
Bank of America Merrill Lynch is the underwriter.
Issuer: | Barclays Bank plc
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Issue: | Market-linked step-up notes
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Underlying index: | Dax Price Return index
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Amount: | $5,963,000
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Maturity: | Aug. 30, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than or equal to initial index level, par plus greater of 30% and index return; otherwise, full exposure to index decline
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Initial index level: | 3,141.81
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Pricing date: | Sept. 2
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Settlement date: | Sept. 12
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Underwriter: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 06738G456
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