By Jennifer Chiou
New York, June 17 – Barclays Bank plc priced $3 million of 0% digital step-up notes due May 22, 2017 linked to futures contracts on WTI crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
If the final price is greater than or equal to 104% of the initial price, the payout at maturity will be par plus the maximum return of 55%.
If the final price is greater than or equal to 75% of the initial price but less than 104% of the initial price, the payout will be par plus 15%.
Otherwise, investors will be fully exposed to losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Digital step-up notes
|
| Underlying commodity: | WTI crude oil
|
| Amount: | $3 million
|
| Maturity: | May 22, 2017
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 55% if return is greater than or equal to 4%; if return is greater than or equal to 75% of the initial price but less than 104% of the initial price, par plus 15%; otherwise, full exposure to decline from initial spot rate
|
| Initial oil price: | $104.35
|
| Upper barrier price: | 104% of initial price
|
| Lower barrier price: | 75% of initial price
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| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Underwriter: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06741UEV2
|
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