By Angela McDaniels
Tacoma, Wash., April 28 - Barclays Bank plc priced an additional $5 million of reverse convertible notes due July 30, 2009 linked to the common stock of Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The company priced $3 million of the notes on Jan. 27. The total amount of notes issued is now $8 million.
The notes carry an annualized coupon of 11%. Interest is payable monthly.
The payout at maturity will be par unless Exxon Mobil shares fall below the protection price - 70% 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 Exxon Mobil shares 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: | Exxon Mobil Corp. (Symbol: XOM)
|
| Amount: | $8 million, increased from $3 million
|
| Maturity: | July 30, 2009
|
| Coupon: | 11%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Exxon Mobil shares fall below protection price during life of notes and final share price is less than initial share price, 12.671059 Exxon Mobil shares; otherwise, par
|
| Initial share price: | $78.92
|
| Protection price: | $55.24, 70% of initial price
|
| Pricing date: | Jan. 27 for $3 million; April 27 for $5 million
|
| Settlement date: | Jan. 30 for $3 million; April 28 for $5 million
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.625%
|
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