Published on 10/30/2007 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million 20% reverse convertibles linked to NutriSystem
New York, Oct. 30 - Barclays Bank plc priced $1.5 million of 20% reverse convertible notes due April 30, 2008 linked to NutriSystem Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless NutriSystem stock falls below the protection price of $21.20, 70% of the initial price of $30.28, during the life of the notes and finishes below the initial price in which case the payout will be 33.025099 shares of NutriSystem stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | NutriSystem Inc. (Symbol: NTRI)
|
Amount: | $1.5 million
|
Maturity: | April 30, 2008
|
Coupon: | 20%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless NutriSystem stock falls below the protection price of $21.20, 70% of the initial price, and finishes below the initial price, in which case 33.025099 shares of NutriSystem stock.
|
Initial price: | $30.28
|
Protection price: | $21.20, 70% of $30.28
|
Exchange ratio: | 33.025099
|
Pricing date: | Oct. 26
|
Settlement date: | Oct. 31
|
Agent: | Barclays Capital
|
Agent fee: | 2.25%
|
|
© 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.