Published on 10/9/2012 in the Prospect News Structured Products Daily.
New Issue:Barclays prices $17.9 million contingent quarterly payment callable notes on fund, indexes
By Toni Weeks
San Diego, Oct. 9 - Barclays Bank plc priced $17.9 million of contingent quarterly payment callable yield notes due April 13, 2015 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Noteholders will receive quarterly interest payments at the rate of 8.03% per year if the lesser-performing component closes at or above its barrier level, 55% of its initial level, on the valuation date for that quarter.
The notes are callable at par on any interest payment date.
If the final level of the lesser-performing component is greater than or equal to its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing component from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent quarterly payment callable yield notes
|
| Underlying components: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE index fund
|
| Amount: | $17.9 million
|
| Maturity: | April 13, 2015
|
| Coupon: | 8.03% per year, payable quarterly, if lesser-performing component closes at or above 55% of its initial level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level of lesser-performing component is greater than or equal to its barrier level, par; otherwise, full exposure to decline of lesser-performing component
|
| Initial levels: | 1,461.40 for S&P 500, 844.65 for Russell 2000 and $54.06 for iShares MSCI EAFE
|
| Barrier levels: | 803.77 for S&P 500, 464.56 for Russell and $29.73 for iShares MSCI EAFE, 55% of initial levels
|
| Call option: | At par on any interest payment date beginning Jan. 4, 2013
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| Pricing date: | Oct. 4
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| Settlement date: | Oct. 10
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| Underwriter: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741THZ3
|
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