By Angela McDaniels
Tacoma, Wash., Jan. 28 - Barclays Bank plc priced an additional $10 million of 9% reverse convertible notes due Nov. 26, 2010 linked to the common stock of CSX Corp., according to a 424B3 filing with the Securities and Exchange Commission.
The original $3.5 million of notes priced Nov. 23. The total issue size is now $13.5 million
Interest is payable monthly.
The payout at maturity will be par in cash unless CSX shares fall below the protection price - 75% of the initial share price - during the life of the notes and finish below the initial price, in which case the payout will be a number of shares of CSX stock equal to $1,000 divided by the initial share price.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | CSX Corp. (Symbol: CSX)
|
Amount: | $13.5 million, increased from $3.5 million
|
Maturity: | Nov. 26, 2010
|
Coupon: | 9%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless CSX shares fall below protection price during life of notes and finish below initial price, in which case 20.542317 shares of CSX stock
|
Initial price: | $48.68
|
Protection price: | $36.51, 75% of initial price
|
Pricing dates: | Nov. 23 for $3.5 million; Jan. 28 for $10 million
|
Settlement dates: | Nov. 30 for $3.5 million; Jan. 29 for $10 million
|
Agent: | Barclays Capital Inc.
|
Fees: | 2.5%
|
Cusip: | 06739J4B6
|
© 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.