Published on 4/30/2007 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million 14.3% reverse convertibles linked to NYSE Euronext
New York, April 30 - Barclays Bank plc priced $2 million of 14.3% reverse convertible notes due Oct. 31, 2007 linked to NYSE Euronext, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash if NYSE Euronext stock stays at or above the protection price of $67.61, 80% of the initial price of $84.51, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be 11.832919 shares of NYSE Euronext stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | NYSE Euronext, Inc.
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Amount: | $2 million
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Maturity: | Oct. 31, 2007
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Coupon: | 14.3%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash if NYSE Euronext stock stays at or above the protection price of $67.61 and finishes at or above the initial price; otherwise 11.832919 shares of NYSE Euronext stock
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Initial price: | $84.51
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Protection price: | $67.61, 80% of 84.51
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Exchange ratio: | 11.832919
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Pricing date: | April 26
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Settlement date: | May 1
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Agent: | Barclays Capital
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Agent fee: | 1.50%
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