Published on 4/19/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 9.25% reverse convertibles linked to Huntsman
New York, April 19 - Barclays Bank plc priced $1 million of 9.25% reverse convertible notes due July 23, 2013 linked to Huntsman Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Huntsman shares fall below the protection price of $11.17, 64.84% of the initial price of $17.23, during the life of the notes and finish below the initial price in which case the payout will be 58.038305 shares of Huntsman stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | Huntsman Corp. (Symbol: HUN)
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Amount: | $1 million
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Maturity: | July 23, 2013
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Coupon: | 9.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Huntsman shares fall below the protection price of $11.17, 64.84% of the initial price, and finish below the initial price, in which case 58.038305 shares of Huntsman stock
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Initial price: | $17.23
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Protection price: | $11.17, 64.84% of $17.23
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Exchange ratio: | 58.038305
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Pricing date: | April 18
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Settlement date: | April 23
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Agent: | Barclays Capital
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Cusip: | 06741JZG7
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