Published on 11/22/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $36.63 million buffered return enhanced notes tied to commodities basket
By Jennifer Chiou
New York, Nov. 22 - Barclays Bank plc priced $36.63 million of 0% buffered return enhanced notes due Nov. 21, 2013 linked to a basket of commodities and a commodity index, according a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of Brent crude, platinum, copper and the S&P GSCI Grains Index Excess Return.
The payout at maturity will be par plus 185% of any basket gain, capped at a return of 27.75%. Investors will receive par for losses up to 20% and will share in losses beyond the buffer at a rate of 1.25% per 1% decline.
Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as distributors.
Issuer: | Barclays Bank plc
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Issue: | Buffered return enhanced notes
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Underlying assets: | Brent crude, platinum, copper and the S&P GSCI Grains Index Excess Return., equally weighted
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Amount: | $36,634,000
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Maturity: | Nov. 21, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 185% of any basket gain, capped at 27.75%; par for losses up to 20%; investors share in losses beyond the buffer at a rate of 1.25% per 1% decline
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Initial levels: | $107.56 for Brent crude, $1,594 for platinum, $7,582.50 for copper and 39.84021 for the S&P GSCI Grains Index Excess Return
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Pricing date: | Nov. 18
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Settlement date: | Nov. 23
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Agent: | Barclays Capital Inc.
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Fees: | 1.5%
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Cusip: | 06738KZN4
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