Published on 10/28/2004 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $2.415 million 15.2% reverse exchangeables linked to PMC-Sierra
New York, Oct. 28 - Barclays Bank plc priced $2.415 million of one-year 15.2% knock-in reverse exchangeable notes linked to PMC-Sierra Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
| Issuer: | Barclays Bank plc
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| Issue: | Knock-in reverse exchangeable senior medium-term notes
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| Underlying stock: | PMC-Sierra Inc.
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| Amount: | $2.415 million
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| Maturity: | Oct. 28, 2005
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| Coupon: | 15.2%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par in cash if PMC-Sierra stock never trades below knock-in level, otherwise smaller of par in cash or 105 shares of PMC-Sierra stock
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| Knock-in price: | $6.64, 70% of initial price of $9.48
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| Exchange ratio: | 105
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| Exchange price: | $9.48 (initial level of PMC-Sierra stock)
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| Call: | Non-callable
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 29
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| Lead manager: | Barclays Capital
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| Distribution: | Off shelf
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