E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 6/16/2009 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $3 million 15.5% reverse convertibles linked to Harley-Davidson

New York, June 16 - Barclays Bank plc priced $3 million of 15.5% reverse convertible notes due Dec. 16, 2009 linked to Harley-Davidson, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Harley-Davidson shares fall below the protection price of $10.84, 65% of the initial price of $16.68, during the life of the notes and finish below the initial price in which case the payout will be 59.952038 shares of Harley-Davidson stock.

Barclays Capital is the agent.

Issuer:Barclays Bank plc
Issue:Reverse convertible notes
Underlying stock:Harley-Davidson, Inc. (Symbol: HOG)
Amount:$3 million
Maturity:Dec. 16, 2009
Coupon:15.5%, payable monthly
Price:Par
Payout at maturity:Par in cash unless Harley-Davidson shares fall below the protection price of $10.84, 65% of the initial price, and finish below the initial price, in which case 59.952038 shares of Harley-Davidson stock
Initial price:$16.68
Protection price:$10.84, 65% of $16.68
Exchange ratio:59.952038
Pricing date:June 12
Settlement date:June 17
Agent:Barclays Capital
Fees:1.625%

© 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.