Published on 12/28/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $845,000 notes due 2017 tied to 10 commodity indexes
By Marisa Wong
Madison, Wis., Dec. 28 - Barclays Bank plc priced $845,000 of notes due Dec. 29, 2017 linked to a basket of 10 commodity indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the S&P GSCI Sugar Index Excess Return, the S&P GSCI Cocoa Index Excess Return, the S&P GSCI Corn Index Excess Return, the S&P GSCI Live Cattle Index Excess Return, the S&P GSCI Lean Hogs Index Excess Return, the S&P GSCI Precious Metals Index Excess Return, the S&P GSCI Natural Gas Index Excess Return, the S&P GSCI Lead Index Excess Return, the S&P GSCI Nickel Index Excess Return and the S&P GSCI Zinc Index Excess Return.
The notes will pay a coupon each year equal to the greater of (a) the average of the basket indexes' performances on the applicable coupon observation date and (b) zero.
If an index's return is greater than or equal to zero, its performance will be equal to the 6.75% return cap. Otherwise, an index's performance will be the greater of its return and negative 15%.
The payout at maturity will be par plus the final coupon payment, if any.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Notes
|
| Underlying indexes: | S&P GSCI Sugar Index Excess Return, the S&P GSCI Cocoa Index Excess Return, the S&P GSCI Corn Index Excess Return, the S&P GSCI Live Cattle Index Excess Return, the S&P GSCI Lean Hogs Index Excess Return, the S&P GSCI Precious Metals Index Excess Return, the S&P GSCI Natural Gas Index Excess Return, the S&P GSCI Lead Index Excess Return, the S&P GSCI Nickel Index Excess Return and the S&P GSCI Zinc Index Excess Return, equally weighted
|
| Amount: | $845,000
|
| Maturity: | Dec. 29, 2017
|
| Coupon: | Greater of (a) average of indexes' performances on applicable coupon observation date and (b) zero; payable annually
|
| Index performance: | If index's return is greater than or equal to zero, 6.75%; otherwise, greater of index's return and negative 15%
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon payment
|
| Initial index levels: | 25.08931 for Sugar, 8.89982 for Cocoa, 17.97704 for Corn, 361.91190 for Live Cattle, 29.42540 for Lean Hogs, 242.59320 for Precious Metals, 33.47029 for Natural Gas, 241.96170 for Lead, 255.09520 for Nickel, 55.17636 for Zinc
|
| Pricing date: | Dec. 26
|
| Settlement date: | Dec. 31
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06741TKZ9
|
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