Published on 6/27/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $17.66 million Accelerated Return Notes on Financial Select Sector
By Toni Weeks
San Diego, June 27 - Barclays Bank plc priced $17.66 million of 0% Accelerated Return Notes due Aug. 31, 2012 linked to the Financial Select Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The payout at maturity will be par of $10.00 plus triple any gain in the index, capped at 19.68%.
Investors will be fully exposed to losses.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying index: | Financial Select Sector
|
Amount: | $17,662,350
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Maturity: | Aug. 31, 2012
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Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 300% of any index gain, capped at 19.68%; exposure to losses
|
Initial level: | 148.35
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Pricing date: | June 23
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Settlement date: | July 1
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 2%
|
Cusip: | 06741K411
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