By Angela McDaniels
Tacoma, Wash., April 3 - Barclays Bank plc priced $8.6 million of 0% buffered return enhanced notes due April 17, 2013 linked to a basket of indexes and their related currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Hang Seng index with a 25% weight, the Korea Composite Stock Price Index 200 with a 25% weight, the Hang Seng China Enterprises index with a 21% weight, the MSCI Taiwan index with a 20% weight and the MSCI Singapore index with a 9% weight.
The related currencies are the Hong Kong dollar for the Hang Seng and Hang Seng China Enterprises, the Korean won for the Korea Composite Stock Price index, the Taiwan dollar for the MSCI Taiwan and the Singapore dollar for the MSCI Singapore.
The basket return will equal the sum of the weighted component returns for the basket indexes.
The component return for each basket index will be the product of (a) its final level divided by its initial level multiplied by (b) the final spot rate of its related currency relative to the U.S. dollar divided by its initial spot rate, in each case averaged over the five trading days ending April 12, 2013.
If the basket return is positive, the payout at maturity will be par plus double the basket return, subject to a maximum return of 14.8%. Investors will receive par if the basket return is between zero and negative 10% and will lose 1.1111% for every 1% that it is less than negative 10%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered return enhanced notes
|
| Underlying indexes: | Hang Seng index (25% weight), Korea Composite Stock Price Index 200 (25% weight), Hang Seng China Enterprises index (21% weight), MSCI Taiwan index (20% weight) and MSCI Singapore index (9% weight)
|
| Amount: | $8,599,000
|
| Maturity: | April 17, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any basket gain, up to maximum return of 14.8%; par if basket falls by 10% or less; 1.1111% loss for every 1% decline beyond 10%
|
| Initial index levels: | 10,640.16 for Hang Seng Enterprises; 266.58 for Korea Composite 200; 283.74 for MSCI Taiwan; 20,555.58 for Hang Seng; 348.40 for MSCI Singapore
|
| Initial exchange rates: | 0.1288 for Hong Kong dollar; 0.0008817 for Korean won; 0.03387 for Taiwan dollar; 0.79561 for Singapore dollar
|
| Pricing date: | March 30
|
| Settlement date: | April 4
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 06738K2G5
|
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