Published on 12/21/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $14.25 million buffered iSuper Track notes on S&P 500, four funds
By Marisa Wong
Madison, Wis., Dec. 21 - Barclays Bank plc priced $14.25 million of buffered iSuper Track notes due June 22, 2015 linked to a basket of index and exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 70% weight, the iShares MSCI EAFE index fund with a 15% weight, the MidCap SPDR Trust Series 1 with a 8% weight, the iShares MSCI Emerging Markets index fund with a 4% weight and the iShares Russell 2000 index fund with a 3% weight.
The notes will pay 1.885% per year, semiannually.
The payout at maturity will be par plus any basket gain, up to a return of 50%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered iSuper Track notes
|
| Underlying basket: | S&P 500 index (70% weight), iShares MSCI EAFE index fund (15% weight), MidCap SPDR Trust Series 1 (8% weight), iShares MSCI Emerging Markets index fund (4% weight), iShares Russell 2000 index fund (3% weight)
|
| Amount: | $14.25 million
|
| Maturity: | June 22, 2015
|
| Coupon: | 1.885% per year, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par plus any basket gain, capped at 50%; par if basket falls by up to 10%; 1% loss for every 1% drop beyond 10%
|
| Initial levels: | 1,205.35 for S&P 500, $47.90 for iShares MSCI EAFE, $152.66 for MidCap SPDR, $36.53 for iShares MSCI EM, $70.94 for iShares Russell
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 22
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06738KD57
|
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