Published on 1/24/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $250,000 9.1% reverse convertibles linked to GameStop
New York, Jan. 24 - Barclays Bank plc priced $250,000 of 9.1% reverse convertible notes due April 29, 2013 linked to GameStop Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless GameStop shares fall below the protection price of $18.66, 80% of the initial price of $23.32, during the life of the notes and finish below the initial price in which case the payout will be 42.88165 shares of GameStop stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | GameStop Corp. (Symbol: GME)
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Amount: | $250,000
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Maturity: | April 29, 2013
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Coupon: | 9.1%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless GameStop shares fall below the protection price of $18.66, 80% of the initial price, and finish below the initial price, in which case 42.88165 shares of GameStop stock
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Initial price: | $23.32
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Protection price: | $18.66, 80% of $23.32
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Exchange ratio: | 42.88165
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Pricing date: | Jan. 23
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Settlement date: | Jan. 28
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Agent: | Barclays Capital
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Cusip: | 06741JWV7
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