Published on 11/5/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.35 million return enhanced notes on S&P 500 via JPMorgan
By Susanna Moon
Chicago, Nov. 5 - Barclays Bank plc priced $5.35 million of 0% buffered return enhanced notes due May 11, 2011 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and JPMorgan Securities LLC are the agents.
The payout at maturity will be par plus double any index gain, up to a maximum return of 12.2%.
Investors will be exposed to any losses.
| Issuer: | Barclays Bank plc
|
| Issue: | Return enhanced notes
|
| Underlying stock: | S&P 500
|
| Amount: | $5,346,000
|
| Maturity: | May 11, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at 12.2%; exposure to losses
|
| Initial price: | 1,221.06
|
| Pricing date: | Nov. 4
|
| Settlement date: | Nov. 9
|
| Agents: | JPMorgan Chase Bank, NA and JPMorgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 06740PG42
|
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