Published on 2/15/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.26 million return optimization securities on copper, zinc via UBS
By Susanna Moon
Chicago, Feb. 15 - Barclays Bank plc priced $5.26 million of 0% return optimization securities due Feb. 17, 2012 based on a basket of copper and zinc, equally weighted, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus double any gain in the basket, up to a maximum payment of $12.55 per note.
Investors will be exposed to any losses.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
Issuer: | Barclays Bank plc
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Issue: | Return optimization securities
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Underlying metals: | Copper and zinc, equally weighted
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Amount: | $5,261,240
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Maturity: | Feb. 17, 2012
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any basket gain, capped at 25.5%; exposure to any basket decline
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Initial prices: | $9,920.50 for copper and $2,415.00 for zinc
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Pricing date: | Feb. 11
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Settlement date: | Feb. 16
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Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 2%
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Cusip: | 06740P536
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