By Angela McDaniels
Tacoma, Wash., June 26 - Barclays Bank plc priced $7.03 million of 0% buffered return enhanced notes due July 10, 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 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 Stock Price 200, 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. Each index's final level and each currency's final spot rate will be the average of its closing levels on the five trading days ending July 5, 2013.
If the basket return is positive, the payout at maturity will be par plus 200% of the basket return, subject to a maximum return of 16.5%. 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%.
Barclays Capital Inc. is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as dealers.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered return enhanced notes
|
| Underlying indexes: | Hang Seng index (25% weight), Korea Stock Price Index 200 (25% weight), Hang Seng China Enterprises index (21% weight), MSCI Taiwan index (20% weight) and MSCI Singapore Free index (9% weight)
|
| Underlying currencies: | Hong Kong dollar for Hang Seng and Hang Seng China Enterprises, Korean won for the Korea Stock Price 200, Taiwan dollar for MSCI Taiwan and Singapore dollar for MSCI Singapore
|
| Amount: | $7,025,000
|
| Maturity: | July 10, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus double basket gain, subject to maximum return of 16.5%; par if basket return is between zero and negative 10%; 1.1111% loss for every 1% drop beyond 10%
|
| Initial levels: | 9,504.19 for Hang Seng China Enterprises, 244.15 for Korea Stock Price, 256.83 for MSCI Taiwan, 18,995.13 for Hang Seng, 325.38 for MSCI Singapore
|
| Initial spot rates: | 0.12887 for Hong Kong dollar, 0.0008642 for won, 0.03340 for Taiwan dollar, 0.78296 for Singapore dollar
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Agent: | Barclays Capital Inc.
|
| Dealers: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 06741TBS5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
