By Angela McDaniels
Tacoma, Wash., April 27 - Barclays Bank plc priced an additional $10 million of 9% reverse convertible notes due March 30, 2011 linked to the common stock of Research In Motion Ltd., according to a 424B3 filing with the Securities and Exchange Commission.
The notes bring the issue size to $14 million. The original $4 million of notes priced March 26.
Interest is payable monthly.
The payout at maturity will be par in cash unless Research In Motion shares fall below the protection price - 80% 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 Research In Motion 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: | Research In Motion Ltd. (Symbol: RIMM)
|
| Amount: | $14 million, increased from $4 million
|
| Maturity: | March 30, 2011
|
| Coupon: | 9%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Research In Motion shares fall below the protection price during the life of the notes and finish below the initial price, in which case 13.322675 shares of Research In Motion stock
|
| Initial share price: | $75.06
|
| Protection price: | $60.05, 80% of initial share price
|
| Exchange ratio: | 13.322675
|
| Pricing dates: | March 26 for original $4 million; April 27 for additional $10 million
|
| Settlement dates: | March 31 for original issue; April 28 for add-on
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3%
|
| Cusip: | 06740JXQ8
|
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