New Issue: Barclays prices $10 million more 10.25% reverse convertibles on H&R Block

By Susanna Moon

Chicago, March 24 - Barclays Bank plc priced another $10 million of 10.25% annualized reverse convertible notes due Sept. 20, 2011 linked to H&R Block, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $11.5 million, up from $1.5 million.

The payout at maturity will be par in cash unless H&R Block shares fall below the protection price - 70% of the initial price - during the life of the notes and finish below the initial price in which case the payout will be a number of H&R Block shares equal to $1,000 divided by the initial share price.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	H&R Block, Inc. (Symbol: HRB)
Amount:	$11.5 million, up from $1.5 million
Maturity:	Sept. 20, 2011
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless the stock falls below the protection price of and finishes below the initial price, in which case 62.853551 H&R Block shares
Initial price:	$15.91
Protection price:	$11.14, 70% of initial price
Pricing date:	March 15 for $1.5 million, March 23 for $10 million
Settlement date:	March 18 for $1.5 million, March 28 for $10 million
Agent:	Barclays Capital
Fees:	1.625%
Cusip:	06741JEZ8

© 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.