New Issue: Barclays sells $2.1 million buffered return enhanced notes tied to gold

By Marisa Wong

Madison, Wis., Dec. 27 - Barclays Bank plc priced $2.1 million of 0% buffered return enhanced notes due June 27, 2014 linked to the performance of gold, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.22 times any gain in the price of gold, subject to a maximum return of 12.2%.

If the final price of gold is at least 90% of the initial price, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% decline beyond the 10% buffer.

Barclays is the underwriter with JPMorgan as placement agent.

Issuer:	Barclays Bank plc
Issue:	Buffered return enhanced notes
Underlying commodity:	Gold
Amount:	$2,104,000
Maturity:	June 27, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.22 times any gain in gold price, capped at 12.2%; if final price is at least 90% of initial price, par; otherwise, 1.1111% loss for every 1% decline beyond 10% buffer
Initial price:	$1,651.50
Pricing date:	Dec. 21
Settlement date:	Dec. 27
Agent:	Barclays with JPMorgan as placement agent
Fees:	1.25%
Cusip:	06741TLW5

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.