By Angela McDaniels
Tacoma, Wash., Aug. 4 - Barclays Bank plc priced an additional $5 million of reverse convertible notes due Dec. 16, 2009 linked to the common stock of Peabody Energy Corp., according to a 424B3 filing with the Securities and Exchange Commission.
The original $3 million of notes priced June 12. The total issue size is now $8 million.
The six-month notes pay 7.8% for an annualized coupon of 15.6%. Interest is payable monthly.
The payout at maturity will be par unless Peabody Energy shares fall below the protection price - 65% 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 Peabody Energy shares equal to $1,000 divided by the initial price.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | Peabody Energy Corp. (Symbol: BTU)
|
| Amount: | $8 million, including $5 million add-on
|
| Maturity: | Dec. 16, 2009
|
| Coupon: | 15.6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Peabody Energy shares fall below the protection price during the life of the notes and finish below the initial price, in which case 28.042625 shares of Peabody Energy stock
|
| Initial price: | $35.66
|
| Protection price: | $23.18, 65% of $35.66
|
| Pricing date: | June 12 for original issue; Aug. 4 for add-on
|
| Settlement date: | June 17 for original issue: Aug. 5 for add-on
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.625%
|
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