Published on 9/26/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.78 million 9.75% callable yield notes linked to S&P 500, fund
By Jennifer Chiou
New York, Sept. 26 - Barclays Bank plc priced $1.78 million of 9.75% callable yield notes due April 1, 2013 linked to the S&P 500 index and the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either component falls to or below its knock-in level - 50% of its initial level - on the final valuation date, in which case investors will receive par plus the return of the worse performing component, up to a maximum payout of par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable yield notes
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Underlying components: | S&P 500 index, iShares MSCI EAFE index fund
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Amount: | $1.78 million
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Maturity: | April 1, 2013
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Coupon: | 9.75%, payable quarterly
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Price: | Par
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Payout at maturity: | If either component falls below knock-in barrier on the final valuation date, par plus return of worst-performing component, up to maximum payout of par; otherwise, par
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Call: | At par if each underlying component closes above initial levels on any interest payment date
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Initial levels: | 1,129.56 for index, $46.66 for fund
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Knock-in barriers: | 564.78 for index, $23.33 for fund; 50% of initial levels
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Pricing date: | Sept. 22
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Settlement date: | Sept. 29
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Agent: | Barclays Capital Inc.
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Fees: | 1.5%
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Cusip: | 06738KVY4
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