Barclays to sell $350 million cash-settled equity-linked notes tied to Eli Lilly at 0.25%, up 31%

By Abigail W. Adams

Portland, Me., April 22 – Barclays Bank plc plans to price $350 million of five-year cash-settled equity-linked notes tied to Eli Lilly Co. after the market close on Tuesday with price talk for a fixed coupon of 0.25% and a fixed conversion premium of 31%, according to a market source.

Barclays is sole bookrunner for the Securities and Exchange Commission-registered offering.

The notes are non-callable.

There is dividend protection above $1.30 per quarter.

The cash settlement amount will be based on the five-day volume weighted average share price upon maturity.

Barclays Bank is a London-based multinational bank.

Eli Lilly is an Indianapolis-based pharmaceutical company.

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