Published on 10/23/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.83 million market plus notes linked to WTI crude oil
By Susanna Moon
Chicago, Oct. 23 - Barclays Bank plc priced $4.83 million of 0% market plus notes due Nov. 4, 2014 linked to WTI crude oil futures contract, 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 level, the payout at maturity will be par plus the greater of any gain and the 4.01% contingent minimum return.
Otherwise, investors will be fully exposed to losses.
Barclays is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are dealers.
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: | $4,825,000
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Maturity: | Nov. 4, 2014
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | If crude finishes at or above barrier level, par plus any gain, floor of 4.01%; otherwise, full exposure to losses
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Initial price: | $100.81
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Barrier level: | $80.65, 80% of initial level
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Pricing date: | Oct. 18
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Settlement date: | Oct. 23
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Underwriter: | Barclays
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Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 06741TT64
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