Published on 4/3/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $7.85 million notes due 2014 tied to performance of gold
By Marisa Wong
Madison, Wis., April 3 - Barclays Bank plc priced $7.85 million of 0% notes due April 3, 2014 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the gold return is greater than negative 10%, the payout at maturity will be par plus the gold return, subject to a maximum return of 18.25%.
If the gold return is less than or equal to negative 10%, investors will receive $900 for each $1,000 of notes.
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 commodity: | Gold
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Amount: | $7,854,000
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Maturity: | April 3, 2014
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus gold return, subject to minimum payout of $900.00 and maximum payout of $1,182.50 per note
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Initial price: | $1,662.50
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Pricing date: | March 30
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Settlement date: | April 4
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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: | 1.5%
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Cusip: | 06738K2E0
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