Published on 9/5/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.29 million contingent buffered return enhanced notes linked to gold
By Jennifer Chiou
New York, Sept. 5 - Barclays Bank plc priced $5,292,000 of 0% contingent buffered return enhanced notes due Sept. 12, 2013 linked to the performance of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the final price of gold is at least 85% of the initial price, the payout at maturity will be par plus the greater of 5% and the percentage change in the price of gold, subject to a maximum return of 11.5%.
Otherwise, investors will be fully exposed to the decline of gold from its initial price.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as dealers.
Issuer: | Barclays Bank plc
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Issue: | Contingent buffered return enhanced notes
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Underlying asset: | Gold
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Amount: | $5,292,000
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Maturity: | Sept. 12, 2013
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | If final price is at least 85% of initial price, par plus greater of 5% and the percentage change in the price of gold, subject to a maximum return of 11.5%; otherwise, full exposure to decline
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Initial price: | $1,648.50
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Barrier price: | $1,401.23/troy ounce, 85% of initial price
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Pricing date: | Aug. 31
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Settlement date: | Sept. 6
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Underwriter: | Barclays
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Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 06741TFF9
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