Published on 9/28/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.1 million trigger PLUS on currencies vs. euro
By Jennifer Chiou
New York, Sept. 28 - Barclays Bank plc priced $6.1 million of 0% trigger Performance Leveraged Upside Securities due Oct. 3, 2013 linked to the performance of a basket of currencies relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Australian dollar, the Korean won, the Malaysian ringgit, the New Zealand dollar and the Philippine peso. The basket level will increase if the currencies strengthen relative to the euro.
The payout at maturity will be par plus 155% of any gain in the basket. Investors will receive par if the basket falls by 15% or less and will be fully exposed to the decline from the initial level if the basket falls by more than 15%.
Morgan Stanley Smith Barney LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying currencies: | Equal weights of the Australian dollar, the Korean won, the Malaysian ringgit, the New Zealand dollar and the Philippine peso relative to the euro
|
| Amount: | $6,104,000
|
| Maturity date: | Oct. 3, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 155% of any gain in the basket; par for losses up to 15%; investors will share fully in losses if the basket declines by more than 15%
|
| Initial exchange rates: | 1.3673 for Australian dollar, 1,608.521 for the Korean won, 4.2972 for the Malaysian ringgit, 1.7197 for the New Zealand dollar and 59.19 for the Philippine peso
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 29
|
| Agents: | Barclays Capital Inc. and Morgan Stanley Smith Barney LLC
|
| Fees: | 2.25%
|
| Cusip: | 06738KSX0
|
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