Published on 10/29/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.29 million market plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 29 - Barclays Bank plc priced $2.29 million of 0% market plus notes due April 29, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to 78.5% of the initial level, the payout at maturity will be par plus the index return, subject to a minimum payout of par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
Barclays, JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | Barclays Bank plc
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $2,286,000
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Maturity: | April 29, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to barrier level, par plus index return, subject to minimum payout of par; otherwise, 1% loss for every 1% that final level is less than initial level
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Initial index level: | 1,759.77
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Barrier level: | 1,381.42, 78.5% of initial level
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Final level: | Average of index's closing levels on five averaging dates ending April 24, 2015
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Pricing date: | Oct. 25
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Settlement date: | Oct. 30
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Agents: | Barclays, JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 06741TV20
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