Published on 9/19/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.8 million 6% callable yield notes linked to Euro Stoxx, Russell
By Marisa Wong
Madison, Wis., Sept. 19 - Barclays Bank plc priced $2.8 million of 6% callable yield notes due Sept. 17, 2014 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any interest payment date beginning in March 2014.
A knock-in event will occur if either index falls below the knock0in barrier level, 65% of the initial level, on any day during the life of the notes.
The payout at maturity will be par unless a knock-in event has occurred and either index finishes below its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable yield notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $2,798,000
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Maturity: | Sept. 17, 2014
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Coupon: | 6%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index falls below knock-in level during life of notes and either index finishes below initial level, in which case full exposure to decline of lesser-performing index
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Call option: | At par on any interest payment date beginning in March 2014
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Initial levels: | 2,890.95 for Euro Stoxx 50, 1,066.39 for Russell
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Knock-in barrier levels: | 1,879.12 for Euro Stoxx 50, 693.15 for Russell, 65% of initial levels
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Pricing date: | Sept. 17
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Settlement date: | Sept. 20
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Agent: | Barclays
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Fees: | None
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Cusip: | 06741TL54
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