Published on 3/25/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $9.74 million market plus notes linked to WTI crude oil futures
By Toni Weeks
San Luis Obispo, Calif., March 25 - Barclays Bank plc priced $9.74 million of 0% market plus notes due June 2, 2015 linked to futures contracts on 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 81% barrier level, the payout at maturity will be par plus the greater of the 8.25% contingent minimum return and the asset return.
Otherwise, investors will be fully exposed to losses.
Barclays is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.
Issuer: | Barclays Bank plc
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Issue: | Market plus notes
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Underlying commodity: | WTI crude oil futures contract
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Amount: | $9,735,000
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Maturity: | June 2, 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 level, par plus greater of 8.25% and asset return; otherwise, full exposure to losses
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Initial price: | $99.46
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Barrier level: | $80.56, 81% of initial level
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Pricing date: | March 21
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Settlement date: | March 26
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Underwriter: | Barclays
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.2%
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Cusip: | 06741UAQ7
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