Published on 5/1/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $505,000 callable contingent quarterly payment notes on index basket
By Jennifer Chiou
New York, May 1 - Barclays Bank plc priced $505,000 of callable contingent quarterly payment notes due April 28, 2016 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay at a contingent quarterly rate of 8.5% annualized if the lowest-performing component closes at or above its 65% barrier level on the valuation date for that quarter.
The notes are callable at par on any quarterly contingent payment date.
The payout at maturity will be par unless the lowest-performing component finishes below its barrier level, in which case investors will be fully exposed to any losses of the lowest-performing component.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent quarterly payment notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $505,000
|
| Maturity: | April 28, 2016
|
| Coupon: | 8.5% per year, payable quarterly if lowest-performing component closes at or above the coupon barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level of lowest-performing component is greater than or equal to barrier level, par; otherwise, full exposure to decline of lowest-performing component
|
| Call option: | At par on any quarterly contingent payment date
|
| Initial levels: | 1,585.16 for S&P 500; 940.28 for Russell; 2,704.41 for Euro Stoxx
|
| Barrier levels: | 1,030.35 for S&P 500; 611.18 for Russell; 1,757.87 for Euro Stoxx; 65% of initial levels
|
| Coupon barrier: | 1,030.35 for S&P 500; 611.18 for Russell; 1,757.87 for Euro Stoxx; 65% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741TSC2
|
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