By Susanna Moon
Chicago, Jan. 15 - Barclays Bank plc priced another $5 million of 9.75% reverse convertible notes due Dec. 28, 2010 based on the performance of Barrick Gold Corp. shares, according to a 424B3 filing with the Securities and Exchange Commission.
This brings the total deal size to $6 million. Barclays priced $1 million of the notes on Dec. 23.
The payout at maturity will be par in cash unless Barrick shares fall below the protection price - 75% 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 Barrick shares equal to $1,000 divided by the initial share price.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | Barrick Gold Corp. (NYSE: ABX)
|
| Amount: | $6 million, up from $1 million
|
| Maturity: | Dec. 28, 2010
|
| Coupon: | 9.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Barrick shares fall below the protection price during the life of the notes and finish below the initial price, in which case 24.857 Barrick shares
|
| Initial price: | $40.23
|
| Protection price: | $30.1725, or 75% of initial share price
|
| Pricing dates: | Dec. 23 for $1 million; Jan. 14 for $5 million
|
| Settlement dates: | Dec. 31 for $1 million; Jan. 15 for $5 million
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06740JAQ3
|
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