New Issue: Barclays prices $1.5 million 10% reverse convertibles linked to Home Depot

By E. Janene Geiss

Philadelphia, Jan. 24 - Barclays Bank plc priced $1.5 million of 10% reverse convertible notes due April 25, 2008 linked to Home Depot, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable at maturity.

Payout at maturity will be par in cash unless Home Depot stock falls below the protection price of $6.44, 70% of the initial price of $28.20, during the life of the notes and finishes below the initial price, in which case the payout will be 35.460993 shares of Home Depot stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Home Depot, Inc. (Symbol: HD)
Amount:	$1.5 million
Maturity:	April 25, 2008
Coupon:	10%, payable at maturity
Price:	Par
Payout at maturity:	Par in cash unless Home Depot stock falls below the protection price of $19.74, 70% of the initial price, and finishes below the initial price, in which case 35.460993 shares of Home Depot stock.
Initial price:	$28.20
Protection price:	$19.74, 70% of $28.20
Exchange ratio:	35.460993
Pricing date:	Jan. 22
Settlement date:	Jan. 29
Agent:	Barclays Capital
Fees:	1.5%

© 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.