Published on 12/8/2009 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $20 million 4.75% Yeelds linked to Noble Energy
By Angela McDaniels
Tacoma, Wash., Dec. 8 - Barclays Bank plc priced $20 million of 4.75% annualized Yield Enhanced Equity Linked Debt Securities due May 27, 2010 linked to the common stock of Noble Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $66.076, which was the closing price of Noble Energy stock on the pricing date.
Interest is payable monthly.
The payout at maturity will be an amount equal to the closing price of Noble Energy stock on May 20, 2010. The payout will be capped at 126.8% of par and is payable in stock or cash at Barclays' option.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Yield Enhanced Equity Linked Debt Securities
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Underlying stock: | Noble Energy, Inc. (NYSE: NBL)
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Amount: | $20,000,214
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Maturity: | May 27, 2010
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Coupon: | 4.75%, payable monthly
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Price: | Par of $66.076
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Payout at maturity: | The lesser of the closing price of Noble Energy stock on May 20, 2010 and the equity cap price, payable in cash or stock
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Initial share price: | $66.076
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Equity cap price: | $83.784368, 126.8% of initial share price
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Pricing date: | Dec. 7
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Settlement date: | Dec. 14
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Agent: | Barclays Capital Inc.
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Fees: | None
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