Published on 4/16/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.15 million contingent buffer enhanced notes linked to Brent crude
By Susanna Moon
Chicago, April 16 - Barclays Bank plc priced $4.15 million of 0% contingent buffer enhanced notes due April 24, 2014 linked to Brent crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of Brent crude oil finishes at or above the 85% barrier level, the payout at maturity will be par plus the greater of any gain up to a maximum return of 15% and the contingent minimum return of 6.05%.
Otherwise, investors will be fully exposed to any losses.
Barclays is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are dealers.
Issuer: | Barclays Bank plc
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Issue: | Contingent buffer enhanced notes
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Underlying commodity: | Brent crude oil
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Amount: | $4,145,000
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Maturity: | April 24, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If Brent crude finishes at or above barrier level, par plus any gain, floor of 6.05% and capped at 15%; otherwise, full exposure to losses
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Initial oil price: | $103.11
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Barrier level: | $87.64, or 85% of initial price
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Pricing date: | April 12
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Settlement date: | April 17
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Agent: | Barclays
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Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 06741TSU2
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