New Issue: Barclays prices $500,000 9.4% reverse convertibles linked to International Paper

New York, June 29 - Barclays Bank plc priced $500,000 of 9.4% reverse convertible notes due Sept. 30, 2010 linked to International Paper Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless International Paper shares fall below the protection price of $18.44, 75% of the initial price of $24.59, during the life of the notes and finish below the initial price in which case the payout will be 40.666938 shares of International Paper stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	International Paper Co. (Symbol: IP)
Amount:	$500,000
Maturity:	Sept. 30, 2010
Coupon:	9.4%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless International Paper shares fall below the protection price of $18.44, 75% of the initial price, and finish below the initial price, in which case 40.666938 shares of International Paper stock
Initial price:	$24.59
Protection price:	$18.44, 75% of $24.59
Exchange ratio:	40.666938
Pricing date:	June 25
Settlement date:	June 30
Agent:	Barclays Capital
Fees:	1.375%
Cusip:	06740LYJ8

© 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.