Published on 7/19/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.85 million notes linked to S&P 500 via JPMorgan
By Marisa Wong
Madison, Wis., July 19 - Barclays Bank plc priced $7.85 million of 0% notes due Jan. 18, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index's closing level remains at or above the barrier level - 72% of the initial level - throughout the life of the notes, the payout at maturity will be par plus the greater of the index return and a minimum return of 0%.
Otherwise, the payout will be par plus the index return with exposure to losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents, and Barclays Capital Inc. is the co-agent.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying index: | S&P 500
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Amount: | $7,851,000
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Maturity: | Jan. 18, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index's closing level remains at or above 72% of initial level throughout life of notes, par plus greater of index return and minimum return of 0%; otherwise, par plus index return with exposure to losses
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Initial level: | 1,316.14
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Pricing date: | July 15
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Settlement date: | July 20
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC; Barclays Capital Inc. is co-agent
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Fees: | 1.25%
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Cusip: | 06738KPK1
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