Published on 4/2/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $9.6 million digital notes tied to Russell 2000
By Marisa Wong
Madison, Wis., April 2 - Barclays Bank plc priced $9.6 million of 0% index-linked digital notes due April 5, 2016 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to 85% of the initial level, investors will receive the maximum settlement amount of $1,102.50 per $1,000 principal amount.
If the index finishes below 85% of the initial level, investors will lose 1.1765% for every 1% loss beyond the 15% buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Digital index-linked notes
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Underlying index: | Russell 2000
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Amount: | $9.6 million
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Maturity: | April 5, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 85% of initial level, $1,102.50 per $1,000 note; otherwise, 1.1765% loss for every 1% decline beyond 15% buffer
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Initial level: | 1,173.0377
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Buffer level: | 85% of initial level
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Pricing date: | March 31
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Settlement date: | April 7
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Agent: | Barclays
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Fees: | 1.47%
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Cusip: | 06741UAS3
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