Published on 5/28/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 9% reverse convertibles linked to Deckers Outdoor
New York, May 28 - Barclays Bank plc priced $1 million of 9% reverse convertible notes due Aug. 28, 2013 linked to Deckers Outdoor Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Deckers Outdoor shares fall below the protection price, 67.28% of the initial price of $53.61, during the life of the notes and finish below the initial price in which case the payout will be Deckers Outdoor shares equal to $1,000 principal amount divided by the initial price.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | Deckers Outdoor Corp. (Symbol: DECK)
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Amount: | $1 million
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Maturity: | Aug. 28, 2013
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Coupon: | 9%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Deckers Outdoor shares fall below the protection price, 67.28% of the initial price, and finish below the initial price, in which case Deckers Outdoor shares equal to $1,000 principal amount divided by the initial price
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Initial price: | $53.61
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Protection price: | $, 67.28% of $53.61
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Pricing date: | May 23
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Settlement date: | May 29
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Agent: | Barclays Capital
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Cusip: | 06741J2F5
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