By Toni Weeks
San Luis Obispo, Calif., Nov. 20 - Barclays Bank plc priced $5 million of 0% market plus notes due Jan. 14, 2015 linked to WTI crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of WTI crude finishes at or above the barrier level, 80% of the initial price, the payout at maturity will be par plus the greater of the 4.2% contingent minimum return and double the index return, subject to a maximum return of 10%.
Otherwise, investors will be fully exposed to losses.
The final price will be the average of the WTI crude settlement prices on the five trading days ending Jan. 9, 2015.
Barclays is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are dealers.
| Issuer: | Barclays Bank plc
|
| Issue: | Market plus notes
|
| Underlying commodity: | WTI crude oil
|
| Amount: | $5 million
|
| Maturity: | Jan. 14, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If crude finishes at or above barrier level, par plus two times any gain, floor of 4.2% and cap of 10%; otherwise, full exposure to losses
|
| Initial price: | $93.84
|
| Barrier level: | $75.07, 80% of initial level
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 21
|
| Underwriter: | Barclays
|
| Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 06741TZ59
|
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