By Angela McDaniels
Tacoma, Wash., Feb. 27 - Barclays Bank plc priced $3.69 million of 0% trigger return optimization securities due Feb. 28, 2017 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 1.5 times any gain in the index, up to a maximum return of 25.11%.
If the index's final level is greater than or equal to the trigger level, 75% of the initial level, and less than or equal to the initial level, the payout will be par.
If the index's final level is less than the trigger level, investors will be fully exposed to the decline from the initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger return optimization securities
|
| Underlying index: | S&P 500
|
| Amount: | $3,687,740
|
| Maturity: | Feb. 28, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.5 times any index gain, up to 25.11% maximum return; par if index finishes at or above trigger level and at or below initial level; otherwise, full exposure to index's decline
|
| Initial index level: | 1,845.12
|
| Trigger level: | 1,383.84, 75% of initial level
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06742B584
|
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