Published on 3/30/2007 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.5 million 10% reverse convertibles linked to Newmont Mining
By Laura Lutz
Des Moines, March 30 - Barclays Bank plc priced $3.5 million of 10% reverse convertible notes due March 28, 2008 linked to Newmont Mining Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash if Newmont Mining stock stays at or above the protection price, 80% of the initial price of $42.75, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be in Newmont Mining 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: | Newmont Mining Corp.
|
Amount: | $3.5 million
|
Maturity: | March 28, 2008
|
Coupon: | 10%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash if Newmont Mining stock stays at or above the protection price of $34.20 and finishes at or above the initial price; otherwise shares of Newmont Mining stock equal to $1,000 divided by the initial price
|
Initial price: | $42.75
|
Protection price: | $34.20, 80% of $42.75
|
Pricing date: | March 27
|
Settlement date: | March 30
|
Agent: | Barclays Capital
|
Agent fee: | 2.5%
|
© 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.