Published on 3/6/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.36 million notes linked to Technology Select SPDR
By Angela McDaniels
Tacoma, Wash., March 6 - Barclays Bank plc priced $1.36 million of 0% notes due Sept. 9, 2013 linked to the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's closing share price remains at or above the barrier level throughout the life of the notes, the payout at maturity will be par plus the ETF's return, subject to a minimum payout of par. The barrier level is 76% of the initial share price.
If the ETF's shares close below the barrier level during the life of the notes, the payout at maturity will be par plus the ETF's return, which could be positive or negative.
Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying ETF: | Technology Select Sector SPDR fund
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Amount: | $1,363,000
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Maturity: | Sept. 9, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF's shares remain at or above barrier level throughout life of notes, par plus greater of ETF's return and zero; otherwise, par plus ETF's return with exposure to losses, if any
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Initial share price: | $29.09
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Barrier level: | $22.11, 76% of initial share price
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Pricing date: | March 2
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Settlement date: | March 7
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Agent: | Barclays Capital Inc.
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Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 06738KV24
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