By Marisa Wong
Madison, Wis., Sept. 6 - Barclays Bank plc priced $1.72 million of 0% digital step-up notes due Sept. 16, 2014 linked to the performance of the Mexican peso relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency return is greater than or equal to 3%, the payout at maturity will be par plus the maximum return of 22.7%.
If the currency return is greater than or equal to 0% but less than 3%, the payout will be par plus 5%.
Otherwise, investors will be fully exposed to losses.
Barclays is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Digital step-up notes
|
| Underlying currency: | Mexican peso relative to dollar
|
| Amount: | $1.72 million
|
| Maturity: | Sept. 16, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 22.7% if return is greater than or equal to 3%; if currency return is greater than or equal to 0% but less than 3%, par plus 5%; otherwise, full exposure to decline from initial spot rate
|
| Initial spot rate: | 13.30675 pesos per dollar
|
| Pricing date: | Sept. 4
|
| Settlement date: | Sept. 9
|
| Underwriter: | Barclays with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 1%
|
| Cusip: | 06741TH42
|
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