Published on 3/29/2007 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5 million 13.75% reverse convertibles linked to CB Richard Ellis
By Laura Lutz
Des Moines, March 29 - Barclays Bank plc priced $5 million of 13.75% reverse convertible notes due June 29, 2007 linked to CB Richard Ellis Group, Inc. class A stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash if CB Richard Ellis class A stock stays at or above the protection price, 80% of the initial price of $34.73, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be in CB Richard Ellis class A 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: | CB Richard Ellis Group, Inc.
|
Amount: | $5 million
|
Maturity: | June 29, 2007
|
Coupon: | 13.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash if CB Richard Ellis class A stock stays at or above the protection price of $27.78 and finishes at or above the initial price; otherwise shares of CB Richard Ellis class A stock equal to $1,000 divided by the initial price
|
Initial price: | $34.73
|
Protection price: | $27.78, 80% of $34.73
|
Pricing date: | March 27
|
Settlement date: | March 30
|
Agent: | Barclays Capital
|
Agent fee: | 1.25%
|
© 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.