New Issue: Barclays prices $0.25 million 10% reverse convertibles linked to Alcoa

New York, March 30 - Barclays Bank plc priced $0.25 million of 10% reverse convertible notes due Sept. 30, 2010 linked to Alcoa Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Alcoa shares fall below the protection price of $11.42, 80% of the initial price of $14.27, during the life of the notes and finish below the initial price in which case the payout will be 70.077085 shares of Alcoa stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Alcoa Inc. (Symbol: AA)
Amount:	$0.25 million
Maturity:	Sept. 30, 2010
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Alcoa shares fall below the protection price of $11.42, 80% of the initial price, and finish below the initial price, in which case 70.077085 shares of Alcoa stock
Initial price:	$14.27
Protection price:	$11.42, 80% of $14.27
Exchange ratio:	70.077085
Pricing date:	March 26
Settlement date:	March 31
Agent:	Barclays Capital
Fees:	1.3%
Cusip:	06740JT42

© 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.