Published on 7/3/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5 million notes due 2016 linked to S&P 500
By Marisa Wong
Madison, Wis., July 3 – Barclays Bank plc priced $5 million of 0% notes due Sept. 30, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 27% times the index return. The index return will be the average of the closing levels of the index on Sept. 29, 2014, Dec. 29, 2014, March 27, 2015, June 29, 2015, Sept. 28, 2015, Dec. 28, 2015, March 28, 2016, June 27, 2016 and Sept. 27, 2016.
Otherwise, the payout will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying index: | S&P 500
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Amount: | $5 million
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Maturity: | Sept. 30, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 27% times any index gain, index return will be the average of the closing levels of the index on Sept. 29, 2014, Dec. 29, 2014, March 27, 2015, June 29, 2015, Sept. 28, 2015, Dec. 28, 2015, March 28, 2016, June 27, 2016 and Sept. 27, 2016; if index finishes flat or falls, par
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Initial index level: | 1,974.62
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Pricing date: | July 2
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Settlement date: | July 8
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Agent: | Barclays
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Fees: | 0.25%
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Cusip: | 06741UFL3
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