Published on 9/28/2006 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1 million 13.5% reverse convertibles linked to Pacific Ethanol
By Laura Lutz
Des Moines, Sept. 28 - Barclays Bank plc priced $1 million of 13.5% reverse convertible notes due Sept. 28, 2007 linked to Pacific Ethanol, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash if Pacific Ethanol stock stays at or above the protection price, 60% of the initial price of $14.71, between Sept. 22, 2006 and Sept. 21, 2007, and finishes at or above the initial price. Otherwise, the payout will be in Pacific Ethanol stock, with the number of shares equal to $1,000 divided by the initial share price.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Pacific Ethanol, Inc.
|
Amount: | $1 million
|
Maturity: | Sept. 28, 2007
|
Coupon: | 13.5%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash if Pacific Ethanol stock stays at or above the protection price of $8.83 and finishes at or above the initial price; otherwise shares of Pacific Ethanol stock equal to $1,000 divided by the initial price
|
Initial price: | $14.71
|
Protection price: | $8.83, 60% of 14.71
|
Pricing date: | Sept. 22
|
Settlement date: | Sept. 29
|
Agent: | Barclays Capital
|
© 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.