By Susanna Moon
Chicago, Aug. 9 - Barclays Bank plc priced $250 million of 10-year 0% iPath U.S. Treasury Long Bond Bear exchange-traded notes due Aug. 13, 2020 based on the Barclays Capital Long Bond U.S. Treasury Futures Targeted Exposure index, according to a 424B2 filing with the Securities and Exchange Commission.
The agent planned to sell a portion of the notes at par of $50 on the pricing date and the remainder at varying prices from time to time.
The payout at maturity will be based on a participation rate of $0.10 gain or loss per each 1 point decrease or increase, respectively, in the index plus the income accrued from a notional investment of the value of the ETNs at the 28-day U.S. Treasury bill rate, less costs and fees of 0.75%.
The notes are putable in increments of at least 50,000 notes.
The index seeks to capture returns available from purchasing U.S. Treasury bonds with a remaining term to maturity of 15 years or more through a notional rolling investment in U.S. Treasury bond futures contracts.
The issuer plans to apply to list the notes on the NYSE Arca under the ticker "DLBS."
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | iPath U.S. Treasury Long Bond Bear exchange-traded notes
|
| Underlying index: | Barclays Capital Long Bond U.S. Treasury Futures Targeted Exposure index
|
| Amount: | $250 million
|
| Maturity: | Aug. 13, 2020
|
| Coupon: | 0%
|
| Price: | $50
|
| Payout at maturity: | Based on participation rate of $0.10 gain or loss per each 1 point decrease or increase, respectively, in the index plus the income accrued from a notional investment of the value of the ETNs at the 28-day U.S. Treasury bill rate, less costs and fees of 0.75%
|
| Put option: | In increments of at least 50,000 notes
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 12
|
| Agent: | Barclays Capital Inc.
|
| Cusip: | 06740L444
|
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