Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Barclays Bank plc > News item |
Barclays to price 19.5% reverse convertibles linked to Sears
By E. Janene Geiss
Philadelphia, May 29 - Barclays Bank plc plans to price 19.5% annualized reverse convertible notes due Dec. 31, 2008 linked to the common stock of Sears Holdings Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Sears stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, the payout at maturity will be a number of Sears shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The notes are expected to price May 30 and settle June 4.
Barclays Capital Inc. is the underwriter.
© 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.