Published on 7/23/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5 million notes due 2015 linked to WTI crude oil
By Jennifer Chiou
New York, July 23 – Barclays Bank plc priced $5 million of 0% notes due Sept. 29, 2015 linked to WTI crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
If the final price of oil is greater than or equal to the barrier level, 90% of the initial price, then the payout at maturity will be par plus the greater of (a) 200% of the oil return and (b) 8.4%.
If the final price of oil is less than the barrier level, investors will have 1-to-1 exposure to the decline in oil from its initial price.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying commodity: | WTI crude oil
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Amount: | $5 million notes
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Maturity: | Sept. 29, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final price of oil is greater than or equal to barrier level, par plus greater of (a) 200% of oil return and (b) 8.4%; otherwise, 1-to-1 exposure to decline in oil from initial price
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Initial oil price: | $103.13 per barrel
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Barrier level: | 90% of initial price
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Pricing date: | July 18
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Settlement date: | July 23
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Agent: | Barclays
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Fees: | 1.2%
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Cusip: | 06741UGF5
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