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TheStreet Open House

Barclays Bank PLC To Automatically Redeem The Barclays ETN+ Short C Leveraged Exchange Traded Notes (TICKER: BXDC)

Stocks in this article: BCS BXDC

Barclays Bank PLC announced today the automatic redemption of its Short C Leveraged Exchange Traded Notes linked to the Inverse Performance of the S&P 500 ® Total Return (ticker: BXDC) (the “Securities”). The Securities are being redeemed as the result of a stop loss termination event occurring on January 4, 2013, the stop loss termination date. As described in the prospectus, a stop loss termination event occurs on any index business day prior to or on the final valuation date, when the intraday indicative note value is less than or equal to 15.0% of the principal amount per Security, or $10.00 for each Security. Details of the stop loss termination event are below.

Stop Loss Termination Date:

   

January 4, 2013

Time of Stop Loss Termination Event:

3:12 p.m. EST

Automatic Termination Level:

$10.00

 

Holders of the Securities on the stop loss redemption date, which is the fifth business day following the stop loss termination date, will receive a cash payment equal to the stop loss redemption value.

Stop Loss Redemption Date:

   

January 11, 2013

Stop Loss Redemption Value:

$10.00

 

For more information regarding the stop loss termination event, including how the stop loss redemption value is determined, see the prospectus relating to the Securities under the heading “Specific Terms of the Securities—Stop Loss Termination Event.” The prospectus relating to the Securities can be found on EDGAR, the SEC website, at: www.sec.gov. The prospectus is also available on the product website at www.barx-is.com .

Barclays moves, lends, invests and protects money for customers and clients worldwide. With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people.

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