By Marisa Wong
Madison, Wis., Feb. 28 - Barclays Bank plc priced $564,000 of 0% notes due Feb. 27, 2014 linked to the Barclays Capital Voyager III DJ-UBSCI Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain, subject to a maximum return of 35.25%. Investors will be fully exposed to losses should the index decline.
The notes will be called if the index ever dips below 40% of its initial level. The redemption amount will equal par of $1,000 times the final intraday level divided by the initial level. The final intraday level is the intraday level of the index on the day the trigger event occurs.
The index is designed to provide investors with exposure to commodities markets while seeking to limit the potential downside of investing in commodities. The commodities underlying the index are selected to correspond to the commodities included in the Dow Jones-UBS Commodity index. The index consists of positions in either one or two of the following indexes for the relevant commodity: Barclays Capital Single Commodity Nearby Excess Return indexes and Barclays Capital Pure Beta indexes.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Notes
|
| Underlying index: | Barclays Capital Voyager III DJ-UBSCI Excess Return index
|
| Amount: | $564,000
|
| Maturity: | Feb. 27, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any index gain, capped at 35.25%; full exposure to losses
|
| Call: | If index ever falls below 40% of initial level; redemption amount is par times final intraday level divided by initial level
|
| Initial level: | 525.3607
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 29
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 06738KN49
|
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