By Toni Weeks
San Diego, Nov. 23 - Barclays Bank plc priced an additional $1 million principal amount of 11.9% reverse convertible notes due March 30, 2012 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $5.6 million. Previously, the issuer priced $100,000 of the notes on Sept. 27, $1 million on Oct. 13, $1 million on Oct. 26, $1.5 million on Nov. 2 and $1 million on Nov. 17.
Interest is payable monthly.
The payout at maturity will be par unless Halliburton shares close below the protection price -75% of the initial share price - during the life of the notes and finish below the initial share price, in which case the payout will be a number of shares of Halliburton 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: | Halliburton Co. (NYSE: HAL)
|
| Amount: | $5.6 million, increased from $100,000
|
| Maturity: | March 30, 2012
|
| Coupon: | 11.9%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Halliburton shares fall below protection price during life of notes and finish below initial price, in which case 29.019153 shares of Halliburton stock
|
| Initial share price: | $34.46
|
| Protection price: | $25.85, 75% of initial share price
|
| Pricing dates: | Sept. 27 for $100,000; Oct. 13 for $1 million; Oct. 26 for $1 million; Nov. 2 for $1.5 million; Nov. 14 for $1 million; Nov. 22 for $1 million
|
| Settlement dates: | Sept. 30 for $100,000; Oct. 18 for $1 million; Oct. 31 for $1 million; Nov. 7 for $1.5 million; Nov. 17 for $1 million; Nov. 28 for $1 million
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 06741JNA3
|
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