Published on 11/14/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $627,000 return enhanced notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 14 - Barclays Bank plc priced $627,000 of 0% return enhanced notes due Nov. 26, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus double the index return, up to a maximum return of 15%. If the index return is negative, investors will have 1-to-1 exposure to the decline.
JPMorgan Chase Bank, NA and JPMorgan Securities LLC are the placement agents.
Issuer: | Barclays Bank plc
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Issue: | Return enhanced notes
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Underlying index: | S&P 500
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Amount: | $627,000
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Maturity: | Nov. 26, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, up to 15% maximum return; if index return is negative, 1-to-1 exposure to decline
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Initial index level: | 1,770.61
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Final index level: Average of index's closing levels on five trading days ending Nov. 21, 2014
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Pricing date: | Nov. 8
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Settlement date: | Nov. 14
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Agents: | JPMorgan Chase Bank, NA and JPMorgan Securities LLC
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Fees: | 1%
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Cusip: | 06741TW94
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