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Barclays delays pricing date for double short leverage notes linked to 30Y Treasury Futures index
By Angela McDaniels
Tacoma, Wash., Aug. 3 - Barclays Bank plc changed the pricing date for its upcoming 0% double short leverage securities due Aug. 30, 2013 linked to the Barclays Capital 30Y Treasury Futures index to Aug. 26 from Aug. 25, according to an FWP filing with the Securities and Exchange Commission.
The expected settlement date remains Aug. 31.
As previously reported, the notes (Cusip: 06740PKE5) will price at 103.6.
The notes will be putable at any time, subject to a minimum of 1,000 securities, and they will be called if the index increases by more than 35%.
The payout at maturity or upon redemption will be par minus 200% of the index return plus an additional amount and minus an investor fee. The notes are not principal protected.
The additional amount is equal to the interest accrued on the principal amount at a rate per year equal to overnight Libor, compounded daily.
The investor fee will be zero if the final valuation date occurs in the first year, 0.85% if it occurs in the second year and 1.7% if it occurs in the third year.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
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