Published on 11/20/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million principal at risk capped floaters on Russell
By Marisa Wong
Madison, Wis., Nov. 20 - Barclays Bank plc priced $1 million of principal at risk Russell 2000 index-linked notes due Nov. 21, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be equal to Libor plus a spread of 300 bps, subject to a minimum rate of 0% and a maximum rate of 6%. Interest is payable quarterly.
The payout at maturity will be par unless the final index level is less than 55% of the initial level, in which case the payout will be par plus the index return with full exposure to losses.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Principal at risk capped floating-rate notes
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Underlying index: | Russell 2000
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Amount: | $1 million
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Maturity: | Nov. 21, 2018
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Coupon: | Libor plus 300 bps, subject to floor of 0% and cap of 6%; payable quarterly
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Price: | Par
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Payout at maturity: | Par unless final index level is less than barrier level, in which case par plus index return with full exposure to losses
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Initial level: | 1,107.29
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Barrier level: | 609.00, 55% of initial level
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Pricing date: | Nov. 18
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Settlement date: | Nov. 21
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Agent: | Barclays
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Fees: | 2%
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Cusip: | 06741TX85
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