Published on 11/14/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.04 million market plus notes linked to S&P 500
By Susanna Moon
Chicago, Nov. 14 - Barclays Bank plc priced $2.04 million of 0% market plus notes due May 13, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index never closes below the 79% barrier level during the life of the notes, the payout at maturity will be par plus any index gain, with a minimum payout of par.
Otherwise, investors will be fully exposed to any losses.
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: | $2,038,000
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Maturity: | May 13, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index never dips below barrier level, par plus any index gain, floor of par; otherwise, full exposed to any losses
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Initial index level: | 1,770.61
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Barrier level: | 1,398.78, or 79% of initial level
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Pricing date: | Nov. 8
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Settlement date: | Nov. 14
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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: | 06741TX286
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