Published on 4/29/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million 8.25% reverse convertibles linked to Research in Motion
New York, April 29 - Barclays Bank plc priced $2 million of 8.25% reverse convertible notes due April 29, 2011 linked to Research In Motion Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Research in Motion shares fall below the protection price of $57.09, 80% of the initial price of $71.36, during the life of the notes and finish below the initial price in which case the payout will be 14.013453 shares of Research in Motion stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Research In Motion Ltd. (Symbol: RIMM)
|
Amount: | $2 million
|
Maturity: | April 29, 2011
|
Coupon: | 8.25%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Research in Motion shares fall below the protection price of $57.09, 80% of the initial price, and finish below the initial price, in which case 14.013453 shares of Research in Motion stock
|
Initial price: | $71.36
|
Protection price: | $57.09, 80% of $71.36
|
Exchange ratio: | 14.013453
|
Pricing date: | April 27
|
Settlement date: | April 30
|
Agent: | Barclays Capital
|
Fees: | 2.5%
|
Cusip: | 06740LMJ1
|
© 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.