Published on 7/17/2008 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3 million 11% reverse convertibles linked to Exxon Mobil
New York, July 17 - Barclays Bank plc priced $3 million of 11% reverse convertible notes due Jan. 22, 2009 linked to Exxon Mobil Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Exxon Mobil shares fall below the protection price of $64.65, 80% of the initial price of $80.81, during the life of the notes and finish below the initial price in which case the payout will be 12.374706 shares of Exxon Mobil stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Exxon Mobil Corp. (Symbol: XOM)
|
Amount: | $3 million
|
Maturity: | Jan. 22, 2009
|
Coupon: | 11%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Exxon Mobil shares fall below the protection price of $64.65, 80% of the initial price, and finish below the initial price, in which case 12.374706 shares of Exxon Mobil stock
|
Initial price: | $80.81
|
Protection price: | $64.65, 80% of $80.81
|
Exchange ratio: | 12.374706
|
Pricing date: | July 16
|
Settlement date: | July 30
|
Agent: | Barclays Capital
|
Fees: | 1.625%
|
© 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.