Published on 9/19/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.34 million dual directional notes tied to WTI crude
By Marisa Wong
Madison, Wis., Sept. 19 - Barclays Bank plc priced $2.34 million of 0% dual directional notes due March 20, 2015 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 75.25% barrier 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 barrier level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Dual directional notes
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Underlying asset: | WTI crude
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Amount: | $2,335,000
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Maturity: | March 20, 2015
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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 barrier price, par plus absolute value of return; otherwise, full exposure to losses
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Initial price: | $105.42
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Barrier price: | 75.25% of initial price
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Pricing date: | Sept. 17
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Settlement date: | Sept. 20
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Agent: | Barclays
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Fees: | 1.25%
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Cusip: | 06741TL39
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