New Issue: Barclays prices $3 million 12.25% reverse convertibles linked to Rent-A-Center

New York, Aug. 27 - Barclays Bank plc priced $3 million of 12.25% reverse convertible notes due Aug. 26, 2009 linked to Rent-A-Center, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Rent-A-Center shares fall below the protection price of $11.30, 50% of the initial price of $22.60, during the life of the notes and finish below the initial price in which case the payout will be 44.247788 shares of Rent-A-Center stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Rent-A-Center, Inc. (Symbol: RCII)
Amount:	$3 million
Maturity:	Aug. 26, 2009
Coupon:	12.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Rent-A-Center shares fall below the protection price of $11.30, 50% of the initial price, and finish below the initial price, in which case 44.247788 shares of Rent-A-Center stock
Initial price:	$22.60
Protection price:	$11.30, 50% of $22.60
Exchange ratio:	44.247788
Pricing date:	Aug. 26
Settlement date:	Aug. 29
Agent:	Barclays Capital
Fees:	3.95%

© 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.