Barclays to price 0% iPath exchange-traded notes linked to Dow Jones - AIG Industrial Metals

By Angela McDaniels

Seattle, Nov. 1 - Barclays Bank plc plans to price an issue of 0% iPath exchange-traded notes due 2036 linked to the Dow Jones - AIG Industrial Metals Total Return Sub-Index, according to a 424B2 filing with the Securities and Exchange Commission.

Holders may redeem the notes at any time during the life of the notes. The payout will be the par plus any gain or loss on the index, minus the redemption charge - 0.00125 multiplied by the payout - and minus an investor fee.

The investor fee is equal to 0.75% of par per year multiplied the index factor, which is equal to the closing level each day divided by the initial index level. The fee will be calculated on a daily basis, and upon redemption, investors will receive the payout minus the sum of the investor fee for each day since the notes were issued.

The payout at maturity will be calculated in the same way.

Barclays will apply to list the notes on the New York Stock Exchange.

Barclays Capital will be the agent.

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