Published on 8/22/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $12.91 million capped leveraged buffered notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Aug. 22 – Barclays Bank plc priced $12.91 million of 0% capped leveraged buffered index-linked notes due Jan. 11, 2016 tied 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 1.2 times the index return, subject to a maximum payout of $1,138.12 per $1,000 of notes.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% index decline beyond the 10% buffer.
Barclays is the underwriter.
Issuer: | Barclays Bank plc
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Issue: | Capped leveraged buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $12,913,000
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Maturity: | Jan. 11, 2016
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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 120% of the index return, with maximum payout of $1,138.12 per $1,000 of notes; par if index falls by up to 10%; 1.1111% loss for every 1% decline in the index beyond 10%
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Initial index level: | 1,986.51
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Pricing date: | Aug. 20
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Settlement date: | Aug. 28
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Underwriter: | Barclays
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Fees: | None
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Cusip: | 06741UHU1
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