New Issue: Barclays prices $4 million 17% reverse convertibles linked to Nexen

New York, June 26 - Barclays Bank plc priced $4 million of 17% reverse convertible notes due Dec. 30, 2008 linked to Nexen Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Nexen shares fall below the protection price of $31.38, 80% of the initial price of $39.22, during the life of the notes and finishes below the initial price in which case the payout will be 25.497195 shares of Nexen stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Nexen Inc. (Symbol: NXY)
Amount:	$4 million
Maturity:	Dec. 30, 2008
Coupon:	17%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Nexen stock falls below the protection price of $31.38, 80% of the initial price, and finishes below the initial price, in which case 25.497195 shares of Nexen stock
Initial price:	$39.22
Protection price:	$31.38, 80% of $39.22
Exchange ratio:	25.497195
Pricing date:	June 25
Settlement date:	June 30
Agent:	Barclays Capital
Fees:	2.25%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.