By Angela McDaniels
Tacoma, Wash., Dec. 7 - Barclays Bank plc priced an additional $10 million of 8.25% reverse convertible notes due Oct. 29, 2010 linked to the common stock of Apple Inc., according to a 424B3 filing with the Securities and Exchange Commission.
The original $3 million of notes priced Oct. 27. The total issue size is now $13 million.
Interest is payable monthly.
The payout at maturity will be par in cash unless Apple shares fall below the protection price - 80% of the initial share price - during the life of the notes and finish below the initial price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial share price.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $13 million, increased from $3 million
|
| Maturity: | Oct. 29, 2010
|
| Coupon: | 8.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Apple shares fall below the protection price during the life of the notes and finish below the initial price, in which case 5.066626 shares of Apple stock
|
| Initial share price: | $197.37
|
| Protection price: | $157.90, 80% of initial price
|
| Pricing dates: | Oct. 27 for $3 million; Dec. 4 for $10 million
|
| Settlement dates: | Oct. 30 for $3 million; Dec. 7 for $10 million
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.5%
|
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