Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hang Seng China Enterprises index > News item |
Barclays plans buffered return enhanced notes linked to Asian indexes
By Angela McDaniels
Tacoma, Wash., Oct. 27 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Nov. 16, 2011 linked to a basket of indexes and their related currencies, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the Hang Seng China Enterprises index with a 33% weight, the Korea Composite Stock Price Index 200 with a 25% weight, the MSCI Taiwan index with a 19% weight, the Hang Seng index with a 14% weight and the MSCI Singapore index with a 9% weight.
To determine the return for each component, the issuer will multiply the index return by the return of the applicable currency - the Hong Kong dollar for the Hang Seng and Hang Seng China Enterprises, the Korean won for the Kospi, the Taiwan dollar for the MSCI Taiwan and the Singapore dollar for the MSCI Singapore - relative to the U.S. dollar.
The payout at maturity will be par plus double any basket gain, up to a maximum return of at least 15.8% that will be set at pricing. Investors will receive par if the basket falls by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
The notes (Cusip 06740PA97) are expected to price Oct. 29 and settle Nov. 3.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
© 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.