By Susanna Moon
Chicago, Dec. 2 – Barclays Bank plc priced $1.14 million of 0% notes due May 31, 2017 linked to the SPDR S&P Bank exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes at or above the initial level, the payout at maturity will be par plus 1.5 times the gain, up to a maximum return of 22.5%.
If the fund falls by up to the 85% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Notes
|
| Underlying fund: | SPDR S&P Bank ETF
|
| Amount: | $1.14 million
|
| Maturity: | May 31, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund gains, par plus 1.5 times the return capped at 22.5%; if fund falls by up barrier level, par; otherwise, par plus return with full exposure to any losses
|
| Initial level: | $36.13
|
| Barrier value: | 85% of initial level
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 25
|
| Underwriter: | Barclays
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
| Cusip: | 06741UV35
|
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