Barclays plans to price 7.1% buffered reverse convertibles linked to Superior Energy Services

By E. Janene Geiss

Philadelphia, Dec. 17 - Barclays Bank plc plans to price 7.1% annualized buffered reverse convertible notes due March 22, 2010 linked to Superior Energy Services, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par unless the stock ends below 90% of the initial price, in which case investors will receive a number of Superior Energy shares equal to $1,000 divided by the initial share price plus the 10% buffer or, at Barclays' option, the equivalent value in cash.

The notes are expected to price on Dec. 17 and settle on Dec. 22.

Barclays Capital Inc. is 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.