New Issue: Barclays prices $24.11 million dual directional notes tied to WTI crude

By Susanna Moon

Chicago, July 19 - Barclays Bank plc priced $24.11 million of 0% dual directional notes due July 28, 2014 linked to WTI crude, according to a 424B2 filing with the Securities and Exchange Commission.

If the price of crude finishes above the 78.5% trigger level, the payout at maturity will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses if crude drops below the 78.5% trigger.

Barclays is the underwriter with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as the placement agents.

Issuer:	Barclays Bank plc
Issue:	Dual directional notes
Underlying asset:	WTI crude
Amount:	$24,107,000
Maturity:	July 28, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If crude falls by up to the trigger level, par plus absolute value of return; otherwise, full exposure to any losses
Initial level:	$106.48
Trigger level:	$83.59, 78.5% of initial index level
Pricing date:	July 17
Settlement date:	July 22
Agents:	Barclays with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as placement agents
Fees:	1%
Cusip:	06741TZB6

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