Published on 4/30/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 10% reverse convertibles linked to Capital One
New York, April 30 - Barclays Bank plc priced $1 million of 10% reverse convertible notes due Oct. 29, 2010 linked to Capital One Financial Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Capital One shares fall below the protection price of $34.63, 80% of the initial price of $43.29, during the life of the notes and finish below the initial price in which case the payout will be 23.100023 shares of Capital One stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Capital One Financial Corp. (Symbol: COF)
|
Amount: | $1 million
|
Maturity: | Oct. 29, 2010
|
Coupon: | 10%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Capital One shares fall below the protection price of $34.63, 80% of the initial price, and finish below the initial price, in which case 23.100023 shares of Capital One stock
|
Initial price: | $43.29
|
Protection price: | $34.63, 80% of $43.29
|
Exchange ratio: | 23.100023
|
Pricing date: | April 27
|
Settlement date: | April 30
|
Agent: | Barclays Capital
|
Fees: | 0.3%
|
Cusip: | 06740LCK9
|
© 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.