Published on 2/27/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $354,000 annual reset coupon buffered notes linked to Russell 2000
By Marisa Wong
Madison, Wis., Feb. 27 - Barclays Bank plc priced $354,000 of annual reset coupon buffered notes due Feb. 28, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually and will equal 6% if the index's return for that year is positive or zero. Otherwise, the coupon will be 1.6% minimum coupon for that year. The index's return will be measured from its level a year earlier.
The payout at maturity will be par unless the final index level is less than 80% of the initial index level, in which case investors will lose 1% for every 1% that the index declines below the buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual reset coupon buffered notes
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Underlying index: | Russell 2000
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Amount: | $354,000
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Maturity: | Feb. 28, 2020
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Coupon: | 6% if year-over-year index return is positive or zero, otherwise 1.6%; payable annually
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Price: | Par
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Payout at maturity: | Par if final index level is at least 80% of initial level; otherwise, 1% loss for every 1% that index declines beyond 20%
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Initial index level: | 1,181.72
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Pricing date: | Feb. 26
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Settlement date: | Feb. 28
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Agent: | Barclays
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Fees: | 3.25%
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Cusip: | 06741T5J2
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