Barclays to price 20% reverse convertibles linked to Tenet via LaSalle

By Laura Lutz

Des Moines, Oct. 22 - Barclays Bank plc plans to price an issue of 20% reverse convertible notes due Jan. 30, 2008 linked to Tenet Healthcare Corp. stock, according to a term sheet.

Interest will be payable monthly.

The payout at maturity will be par unless Tenet stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price. In that case, the payout will be a number of Tenet shares equal to $1,000 divided by the initial share price.

The notes will price on Nov. 2 and settle on Nov. 7.

LaSalle Financial Services, Inc. will be the lead 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.