Published on 2/28/2006 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $3 million 14% exchangeables linked to salesforce.com
By Jennifer Chiou
New York, Feb. 28 - Barclays Bank plc priced $3 million of one-year 14% exchangeable notes linked to salesforce.com, inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Issuer: | Barclays Bank plc
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Issue: | Exchangeable medium-term series A notes
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Underlying stock: | salesforce.com, inc.
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Amount: | $3 million
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Maturity: | Feb. 28, 2007
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Coupon: | 14%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless salesforce.com stock finishes below the initial price of $33.79 and falls below the protection price of $23.65 between Feb. 24, 2006 and Feb. 26, 2007, in which case $1,000/$33.79 shares per $1,000 principal amount
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Protection price: | $23.65, 70% of initial price
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Initial share price: | $33.79
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Pricing date: | Feb. 24
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Settlement date: | Feb. 28
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Underwriter: | Barclays Capital
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