By Angela McDaniels
Tacoma, Wash., Aug. 29 - Barclays Bank plc priced an additional $1.34 million principal amount of 6% annualized Yield Enhanced Equity Linked Debt Securities due Jan. 14, 2012 linked to the common stock of GenOn Energy Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The additional notes priced at 74.87 for proceeds of $11 million. They bring the total principal amount of notes priced to $11.34 million. The original $10 million of notes priced July 7.
Each note has a face value of $3.94, which is the average execution price per common share that a Barclays affiliate paid to hedge the issuer's obligations under the notes.
Interest is payable monthly.
The payout at maturity will be an amount equal to the average of the volume-weighted average price of GenOn Energy stock on the three trading days ending Jan. 9, subject to a cap of 115% of par. The payment can be made in cash or GenOn stock at Barclays' option.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield Enhanced Equity Linked Debt Securities
|
| Underlying stock: | GenOn Energy Inc. (NYSE: GEN)
|
| Amount: | $11,335,596.70, increased from $10,000,003.68
|
| Maturity: | Jan. 14, 2012
|
| Coupon: | 6%, payable monthly
|
| Price: | Par of $3.94 for original issue; 74.87 for add-on
|
| Payout at maturity: | Lesser of the average of the adjusted VWAP of GenOn Energy stock on the three trading days ending Jan. 9 and the equity cap price, payable in cash or stock at issuer's option
|
| Initial share price: | $3.94
|
| Equity cap price: | $4.531, 115% of initial share price
|
| Pricing dates: | July 7 for $10,000,003.68; Aug. 26 for $1,335,593.02
|
| Settlement dates: | July 14 for original issue; Sept. 2 for add-on
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06738G712
|
© 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.
