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Barclays plans buffered Super Track notes linked to commodity basket
By Marisa Wong
Madison, Wis., Jan. 31 - Barclays Bank plc plans to price 0% buffered Super Track notes due March 5, 2012 linked to the performance of a basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes WTI crude with a 15% weight; gasoline RBOB, heating oil, copper, nickel and gold, each with a 10% weight; and corn, cotton, soybean and sugar, each with an 8.75% weight.
If the basket return is positive, the payout at maturity will be par plus double the basket gain, subject to a maximum return of 15% to 25% that will be set at pricing.
Investors will receive par if the basket declines by 8% to 12% or less and will lose 1% for every 1% decline beyond the buffer, which will also be set at pricing.
The notes (Cusip: 06741JCQ0) will price Feb. 23 and settle Feb. 28.
Barclays Capital Inc. is the agent.
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