Published on 11/22/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million 5% callable yield notes linked to SPDR S&P 500
By Susanna Moon
Chicago, Nov. 22 - Barclays Bank plc priced $2 million of 5% callable yield notes due Nov. 24, 2015 linked to the SPDR S&P 500 exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the fund finishes below the knock-in level, 80% of the initial price, in which case the payout will be par plus the return with exposure to any losses.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable yield notes
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Underlying fund: | SPDR S&P 500 ETF Trust
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Amount: | $2 million
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Maturity: | Nov. 24, 2015
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Coupon: | 5%, payable monthly
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Price: | Par
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Payout at maturity: | Par, unless fund finishes below knock-in level, in which case par plus return with exposure to any losses
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Initial level: | $180.12
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Knock-in level: | $144.10, 80% of initial level
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Call option: | At par on any interest payment date
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Pricing date: | Nov. 19
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Settlement date: | Nov. 22
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 06739GCB3
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