By Angela McDaniels
Tacoma, Wash., Jan. 31 - Barclays Bank plc priced $2 million of annual reset coupon buffered notes due Jan. 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually and will equal 6.5% if the index's return for that year is positive or zero. Otherwise, the coupon will be the 4% for that year. The index's return will be measured from its level a year earlier.
The payout at maturity will be par unless the final index level is less than 80% of the initial index level, in which case investors will lose 1% for every 1% that the index declines below the buffer.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual reset coupon buffered notes
|
| Underlying index: | S&P 500
|
| Amount: | $2 million
|
| Maturity: | Jan. 31, 2017
|
| Coupon: | 6.5% if year-over-year index return is positive or zero, otherwise 3%; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 80% of initial level; otherwise, 1% loss for every 1% that index declines beyond 20%
|
| Initial index level: | 1,316.33
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 31
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3.95%
|
| Cusip: | 06738KG47
|
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