New Issue: Barclays prices $100,000 10.75% reverse convertibles linked to Silver Wheaton

New York, Feb. 28 - Barclays Bank plc priced $100,000 of 10.75% reverse convertible notes due Aug. 31, 2012 linked to Silver Wheaton Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Silver Wheaton shares fall below the protection price of $31.00, 80% of the initial price of $38.75, during the life of the notes and finish below the initial price in which case the payout will be Silver Wheaton shares equal to $1,000 principal amount divided by the initial price.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Silver Wheaton Corp. (Symbol: SLW)
Amount:	$100,000
Maturity:	Aug. 31, 2012
Coupon:	10.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Silver Wheaton shares fall below the protection price, 80% of the initial price, and finish below the initial price, in which case Silver Wheaton shares equal to $1,000 principal amount divided by the initial price
Initial price:	$38.75
Protection price:	$31.00, 80% of $38.75
Pricing date:	Feb. 24
Settlement date:	Feb. 29
Agent:	Barclays Capital
Fees:	2%
Cusip:	06741JRT8

© 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.