New Issue: Barclays prices $3.27 million autocallables linked to Brent crude oil

By Angela McDaniels

Tacoma, Wash., March 11 - Barclays Bank plc priced $3.27 million of 0% autocallable notes due March 18, 2014 linked to Brent crude oil, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus 17.6% per year if the settlement price of oil is greater than or equal to the initial price on any quarterly review date.

If the notes are not called and the reference asset return is greater than or equal to negative 20%, the payout at maturity will be par. If the reference asset return is less than negative 20%, investors will be fully exposed to oil's decline from its initial price.

Barclay is the agent with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as dealers.

Issuer:	Barclays Bank plc
Issue:	Autocallable notes
Underlying commodity:	Brent crude oil
Amount:	$3.27 million
Maturity:	March 18, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless reference asset return is less than negative 20%, in which case full exposed to oil's decline from initial price
Call:	At par plus premium if oil settles at or above initial price on any review date; premium will be 4.4% if notes are called June 7, 2013, 8.8% if called Sept. 9, 2013, 13.2% if called Dec. 9, 2013 and 17.6% if called March 13, 2014
Initial oil price:	$111.15
Pricing date:	March 7
Settlement date:	March 12
Agent:	Barclays
Dealers:	JPMorgan Chase Bank, NA and JPMorgan Securities LLC
Fees:	1%
Cusip:	06741TQS9

© 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.