Barclays to price 9.25% reverse convertibles linked to Apple

By Jennifer Chiou

New York, June 8 - Barclays Bank plc plans to price 9.25% reverse convertible notes due June 27, 2008 linked to the common stock of Apple, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Apple stock falls by more than 30% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial share price.

The notes will price June 26 and settle June 29.

Barclays Capital will be the agent.

© 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.