By Susanna Moon
Chicago, April 8 - Barclays Bank plc priced $1 million of upside participation reverse convertible notes due July 9, 2009 linked to Microsoft Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in Microsoft shares, up to the maximum leveraged percentage of 5.475%.
Investors will receive par if the index falls by up to 25% and will be exposed to losses beyond 25%.
Investors also will receive a supplemental amount of 2% at maturity
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Upside participation reverse convertible notes
|
| Underlying stock: | Microsoft Corp. (Symbol: MSFT)
|
| Amount: | $1 million
|
| Maturity: | July 9, 2009
|
| Coupon: | 2%, payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any gain in Microsoft shares, capped at 5.475%; par if index falls by up to 25% and with exposures to losses beyond 25%, plus 2%
|
| Initial price: | $18.76
|
| Protection price: | 75% of initial price
|
| Pricing date: | April 6
|
| Settlement date: | April 9
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.5%
|
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