Published on 2/6/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5 million floating-rate accrual notes on CPI, S&P 500
By Toni Weeks
San Diego, Feb. 6 - Barclays Bank plc priced $5 million of floating-rate range accrual notes due Feb. 28, 2022 linked to the S&P 500 index and the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
In the first year, the coupon will accrue at 5% per year for each day that the S&P 500 index is at or above 1,000. After that, the rate will be equal to the year-over-year change in the Consumer Price Index plus 200 basis points. Interest is payable monthly and cannot be less than zero.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Floating-rate range accrual notes
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Underlying indexes: | S&P 500, Consumer Price Index
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Amount: | $5 million
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Maturity: | Feb. 28, 2022
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Coupon: | For first year, 5% per year for each day that S&P 500 is at or above 1,000; beginning Feb. 28, 2013, year-over-year change in CPI plus 200 bps, floor of 0%; payable monthly
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Price: | Variable prices
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Payout at maturity: | Par
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Pricing date: | Feb. 6
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Settlement date: | Feb. 28
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Agent: | Barclays Capital Inc.
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Fees: | 3%
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Cusip: | 06738KN98
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