Published on 7/28/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.83 million buffered return optimization securities tied to S&P 500
By Susanna Moon
Chicago, July 28 - Barclays Bank plc priced $2.83 million of 0% buffered return optimization securities due July 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 gain in the index, up to a maximum gain of 20.94%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline 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: | $2,832,780
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Maturity: | July 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 125% of index gain, capped at 20.94%; par for losses of 10% or less; 1% loss per 1% drop beyond 10%
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Initial index level: | 1,331.94
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Pricing date: | July 26
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Settlement date: | July 29
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Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 2%
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Cusip: | 06741K239
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