New Issue: Barclays prices $1.5 million 19.25% reverse convertibles linked to Mosaic

New York, March 27 - Barclays Bank plc priced $1.5 million of 19.25% reverse convertible notes due June 30, 2009 linked to Mosaic Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Mosaic shares fall below the protection price of $28.92, 60% of the initial price of $48.20, during the life of the notes and finish below the initial price in which case the payout will be 20.746888 shares of Mosaic stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Mosaic Co. (Symbol: MOS)
Amount:	$1.5 million
Maturity:	June 30, 2009
Coupon:	19.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Mosaic shares fall below the protection price of $28.92, 60% of the initial price, and finish below the initial price, in which case 20.746888 shares of Mosaic stock
Initial price:	$48.20
Protection price:	$28.92, 60% of $48.20
Exchange ratio:	20.746888
Pricing date:	March 26
Settlement date:	March 31
Agent:	Barclays Capital
Fees:	1.375%

© 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.