By Angela McDaniels
Tacoma, Wash., Dec. 14 – Barclays Bank plc priced an additional $33.15 million of 0% iPath exchange-traded notes due June 24, 2038 linked to the Bloomberg Sugar Subindex Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
The $50 million principal amount of additional notes have a market price of $33.15 million based on $33.15per ETN, which is the average of the high and low prices of the ETNs reported on NYSE Arca on Dec. 11
The additional notes bring the issue size to $160 million. The company priced the original $25 million of notes in June 2008.
The payout at maturity will be par of $50 plus the index return minus the investor fee. The investor fee was zero on the initial pricing date and increases each day by an amount equal to 0.75% of par plus the index return on that day divided by 365.
The notes are putable at any time, subject to a minimum of 50,000 securities. The payout will be calculated in the same way as the payout at maturity.
The notes are listed on the NYSE Arca under the symbol "SGG."
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | iPath Bloomberg Sugar Subindex Total Return exchange-traded notes
|
| Underlying index: | Bloomberg Sugar Subindex Total Return
|
| Amount: | $160 million, increased from $25 million
|
| Maturity: | June 24, 2038
|
| Coupon: | 0%
|
| Price: | Variable prices
|
| Payout at maturity: | Par of $50 plus index return and minus investor fee of roughly 0.75% per year
|
| Put option: | At any time, with payout determined in same way as at maturity; minimum redemption requirement of 50,000 notes
|
| Pricing dates: | June 24, 2008 for $25 million; Aug. 17, 2009 for $12.5 million; Sept. 1, 2009 for $25 million; March 29 for $12.5 million; April 12, 2010 for $10 million; June 16 for $25 million; Dec. 14 for $50 million
|
| Settlement dates: June 27, 2008 for original issue; Aug. 20, 2009 for first add-on; Sep. 4, 2009 for second add-on; April 1 for third add-on; April 15, 2010 for fourth add-on; June 17 for fifth add-on; Dec. 15 for sixth add-on
|
| Agent: | Barclays
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| Fees: | None
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| Listing: | NYSE Arca: SGG
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| Cusip: | 06739H214
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