Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for General Electric Co. > News item |
Barclays to sell 8%-12% RevCons linked to GE via Morgan Stanley
By Susanna Moon
Chicago, Oct. 26 - Barclays Bank plc plans to price 8% to 12% annualized reverse convertible notes due May 12, 2010 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.
Morgan Stanley Smith Barney LLC and Barclays Capital Inc. are the agents.
Interest is payable monthly.
The payout at maturity will be par unless the stock ever dips to or below its knock-in level - 75% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case investors will receive a number of GE shares equal to $1,000 divided by the initial share price or, at Barclays' option, an equivalent cash amount.
The notes will price on Nov. 6 and settle on Nov. 12.
© 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.