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Barclays to price five-year notes linked to Voyager II DJ-UBSCI index
By Marisa Wong
Madison, Wis., July 23 - Barclays Bank plc plans to price 0% notes due Aug. 7, 2017 linked to the Barclays Voyager II DJ-UBSCI Total Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the index return minus an investor fee, which is 1.25% per year times par times the quotient of the final index level divided by the initial index level.
The notes are putable at any time, subject to a minimum of 250 notes, and they are callable at any time. The payout will be determined in the same way as at maturity.
If the intraday indicative value of the index level falls below 40% of the initial index level at any time on any day during the life of the notes, the company has the option to redeem the notes. The index return will be calculated using the intraday level of the index on the trigger date as determined by the calculation agent.
The index is designed to provide investors with exposure to commodities markets while seeking to limit the potential downside of investing in commodities. The commodities underlying the index are selected to correspond to the commodities included in the Dow Jones - UBS Commodity index. The index consists of positions in either one or two of the following indexes for the relevant commodity: Barclays Capital Single Commodity Nearby Excess Return indexes, Barclays Capital Momentum Alpha indexes, Barclays Capital Roll Yield indexes and Barclays Capital Seasonal indexes.
The notes (Cusip: 06741TDB0) are expected to price Aug. 2 and settle Aug. 7.
Barclays Capital Inc. is the agent.
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