Published on 3/31/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 18.5% reverse convertibles linked to UAL
New York, March 31 - Barclays Bank plc priced $1 million of 18.5% reverse convertible notes due June 30, 2010 linked to UAL Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless UAL shares fall below the protection price of $13.94, 70% of the initial price of $19.91, during the life of the notes and finish below the initial price in which case the payout will be 50.226017 shares of UAL stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | UAL Corp. (Symbol: UAUA)
|
Amount: | $1 million
|
Maturity: | June 30, 2010
|
Coupon: | 18.5%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless UAL shares fall below the protection price of $13.94, 70% of the initial price, and finish below the initial price, in which case 50.226017 shares of UAL stock
|
Initial price: | $19.91
|
Protection price: | $13.94, 70% of $19.91
|
Exchange ratio: | 50.226017
|
Pricing date: | March 26
|
Settlement date: | March 31
|
Agent: | Barclays Capital
|
Fees: | 1.375%
|
Cusip: | 06740JZV5
|
© 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.