Barclays Launches Retirement Income Notes

Barclays Capital has announced the launch of Barclays Retirement Income Notes.
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The suite of products seeks to provide a cost-efficient, transparent, and flexible alternative for generating retirement income. Level-Pay Notes and Inflation-Indexed Level-Pay Notes are the first two products in the suite.   

According to a press release, Barclays Retirement Income Notes are securities which may be bought, sold, or transferred and each security is constructed to pay a minimum monthly nominal or inflation-adjusted cash amount, which includes a monthly return of principal spread over time. Barclays intends to issue these notes in a regular monthly program, beginning with a first set of notes issuing on September 1, 2010.   

“As ‘baby boomers’ reach retirement and pension schemes shift from defined benefit to defined contribution plans, there is a greater need for financial products that may allow investors to manage their cash flows while meeting their financial goals and maintaining their standard of living,” said Leo Clark, Director, Rates Structuring Americas, Barclays Capital, in the announcement.  

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