Barclays to price 13% reverse convertibles linked to Cooper Tire

By Jennifer Chiou

New York, April 4 - Barclays Bank plc plans to price 13% reverse convertible notes due Oct. 26, 2007 linked to the common stock of Cooper Tire & Rubber Co., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Cooper Tire stock declines by more than 25% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Cooper Tire shares equal to $1,000 divided by the initial share price.

The notes are expected to price on April 20 and settle on April 27.

Barclays Capital will be the 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.