Published on 5/27/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.73 million buffered return optimization securities tied to S&P 500
By E. Janene Geiss
Philadelphia, May 27 - Barclays Bank plc priced $4.73 million of 0% buffered return optimization securities due May 31, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.25 times any increase in the index, subject to a maximum gain of 20.62%. Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
Issuer: | Barclays Bank plc
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Issue: | Buffered return optimization securities
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Underlying index: | S&P 500
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Amount: | $4,730,850
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Maturity: | May 31, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.25 times any increase in the index, capped at 20.62%; Par if the index falls by 10% or less; 1% loss for every 1% index decline beyond 10%
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Initial index level: | 1,320.47
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Pricing date: | May 25
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Settlement date: | May 31
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Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 2%
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Cusip: | 06740C196
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