Published on 1/25/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $903,000 9.5% autocallable yield notes linked to S&P 500, Gold Miners
By Susanna Moon
Chicago, Jan. 25 - Barclays Bank plc priced $903,000 of 9.5% autocallable yield notes due Jan. 27, 2014 linked to the S&P 500 index and Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if either component closes at or above its initial level on any of three quarterly call valuation dates.
A knock-in event will occur if either component falls below the 75% knock-in level on any trading day.
If a knock-in event does not occur or if it does and the return of the lesser-performing component is zero or positive, investors will receive par at maturity.
If a knock-in event occurs and the return of the lesser-performing component is negative, investors will share in those losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying components: | S&P 500 index and Market Vectors Gold Miners exchange-traded fund
|
| Amount: | $903,000
|
| Maturity: | Jan. 27, 2014
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If knock-in event does not occur or if it does and return of lesser-performing component is zero or positive, par; if knock-in event occurs and return of lesser-performing component is negative, investors will share in those losses
|
| Knock-in event: | Either component falls below knock-in barrier on any trading day
|
| Call: | At par plus accrued interest if either component closes at or above its initial level on April 23, July 23 or Oct. 23, 2013
|
| Initial levels: | 1,494.78 for S&P, $44.56 for fund
|
| Knock-in barriers: | 1,121.09 for S&P, $33.42 for fund; 75% of initial levels
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 28
|
| Agent: | Barclays
|
| Fees: | 2.35%
|
| Cusip: | 06741TMJ3
|
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