By Angela McDaniels
Tacoma, Wash., Nov. 18 - Barclays Bank plc priced another $1 million of 10.25% reverse convertible notes due Sept. 28, 2012 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total issue size to $5.65 million.
Interest is payable monthly.
The payout at maturity will be par in cash unless JPMorgan shares fall below the protection price - 75% 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 shares of JPMorgan stock 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: | JPMorgan Chase & Co. (Symbol: JPM)
|
| Amount: | $5.65 million, increased from $650,000
|
| Maturity: | Sept. 28, 2012
|
| Coupon: | 10.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless JPMorgan shares fall below protection price during life of notes and finish below initial price, in which case 31.67564 shares of JPMorgan stock
|
| Initial share price: | $31.57
|
| Protection price: | $23.6775, 75% of initial share price
|
| Pricing dates: | Sept. 27 for $650,000; Oct. 18 for $2 million; Oct. 19 for $1 million; Oct. 26 for $1 million; Nov. 17 for $1 million
|
| Settlement dates: | Sept. 30 for original issue; Oct. 21 for first add-on; Oct. 24 for second add-on; Oct. 31 for third add-on; Nov. 21 for fourth add-on
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.1%
|
| Cusip: | 06741JMP1
|
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