Published on 8/21/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.37 million callable contingent payment notes on fund, indexes
By Marisa Wong
Madison, Wis., Aug. 21 - Barclays Bank plc priced $8.37 million of callable contingent quarterly payment notes due Aug. 25, 2016 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 8.1% per year if the lowest-performing component closes at or above its barrier level, 65% of its initial level, on the valuation date for that quarter.
If the final level of the lowest-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 lowest-performing component from its initial level.
The notes are callable at par on any quarterly contingent payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent quarterly payment notes
|
| Underlying assets: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE index fund
|
| Amount: | $8,365,000
|
| Maturity: | Aug. 25, 2016
|
| Coupon: | 8.1% per year, payable quarterly if lowest-performing component closes at or above 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: | 1,652.35 for S&P 500, 1,028.57 for Russell 2000 and $61.17 for fund
|
| Barrier levels: | 1,074.03 for S&P 500, 668.57 for Russell 2000 and $39.76 for fund; 65% of initial levels
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 23
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741TE52
|
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