New Issue: Barclays prices $54.6 million notes due 2015 linked to WTI crude oil

By Marisa Wong

Madison, Wis., Oct. 1 – Barclays Bank plc priced $54.6 million of 0% notes due Dec. 21, 2015 linked to futures contracts on 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, 85% of the initial price, then the payout at maturity will be par plus the greater of (a) 1.5 times the oil return and (b) 0%, subject to a maximum return of 15%.

If the final price of oil is less than the barrier level, investors will have 1-to-1 exposure to the decline from the initial price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Notes
Underlying commodity:	WTI crude oil
Amount:	$54,604,000
Maturity:	Dec. 21, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If final price of oil is greater than or equal to barrier level, par plus greater of (a) 150% of oil return and (b) 0%, return capped at 15%; otherwise, 1-to-1 exposure to decline from initial price
Initial oil price:	$93.54 per barrel
Barrier level:	$79.51 per barrel, 85% of initial price
Final price:	Average of settlement prices on five averaging dates ending Dec. 16, 2015
Pricing date:	Sept. 26
Settlement date:	Oct. 1
Agent:	Barclays
Fees:	1.2%
Cusip:	06741UKL7

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