Published on 8/6/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.65 million dual directional notes tied to WTI crude
By Toni Weeks
San Luis Obispo, Calif., Aug. 6 - Barclays Bank plc priced $1.65 million of 0% dual directional notes due Aug. 13, 2014 linked to WTI crude, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of crude finishes at or above the 80.25% trigger level, the payout at maturity will be par plus the absolute value of the return.
Investors will be fully exposed to losses if the price of crude drops below the trigger level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Dual directional notes
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Underlying asset: | WTI crude
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Amount: | $1.65 million
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Maturity: | Aug. 13, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If crude finishes at or above trigger level, par plus absolute value of return; otherwise, full exposure to losses
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Initial level: | $106.94
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Trigger level: | $85.82, 80.25% of initial index level
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Pricing date: | Aug. 2
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Settlement date: | Aug. 7
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06741TZZ3
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