Published on 4/10/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 9.25% reverse convertibles linked to Terex
New York, April 10 - Barclays Bank plc priced $1 million of 9.25% reverse convertible notes due July 12, 2013 linked to Terex Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Terex shares fall below the protection price of $20.73, 65.46% of the initial price of $31.67, during the life of the notes and finish below the initial price in which case the payout will be 31.57562 shares of Terex stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | Terex Corp. (Symbol: TEX)
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Amount: | $1 million
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Maturity: | July 12, 2013
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Coupon: | 9.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Terex shares fall below the protection price of $20.73, 65.46% of the initial price, and finish below the initial price, in which case 31.57562 shares of Terex stock
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Initial price: | $31.67
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Protection price: | $20.73, 65.46% of $31.67
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Exchange ratio: | 31.57562
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Pricing date: | April 9
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Settlement date: | April 12
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Agent: | Barclays Capital
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Cusip: | 06741JZD4
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