By E. Janene Geiss
Philadelphia, Dec. 29 - Barclays Bank plc priced $1 million of 14% annualized buffered reverse convertible notes due March 26, 2009 linked to the common stock of Goldcorp Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than 80% of the initial price, in which case the payout will be $200 in cash plus a number of Goldcorp shares equal to $1,000 divided by the initial share price. At its option, Barclays can pay an equivalent amount of cash in lieu of the shares.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered reverse convertible notes
|
| Underlying stock: | Goldcorp Inc. (Symbol: GG)
|
| Amount: | $1 million
|
| Maturity: | March 26, 2009
|
| Coupon: | 14%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than protection price, 34.554250 Goldcorp shares plus $200 in cash; otherwise, par
|
| Initial share price: | $28.94
|
| Protection price: | $23.15, 80% of initial price
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 31
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.375%
|
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