Published on 4/27/2005 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $1 million 11.5% exchangeables linked to GM
New York, April 27 - Barclays Bank plc priced $1 million of one-year 11.5% exchangeable notes linked to General Motors Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
| Issuer: | Barclays Bank plc
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| Issue: | Exchangeable senior medium-term notes
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| Underlying stock: | General Motors Corp.
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| Amount: | $1 million
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| Maturity: | May 1, 2006
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| Coupon: | 11.5%, paid monthly
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| Price: | Par
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| Payout at maturity: | Par unless General Motors stock finishes below the initial price of $26.52 and it falls below protection price of $18.56 between April 26, 2005 and April 26, 2006, in which case $1,000/$26.52 shares per $1,000 principal amount
|
| Protection price: | $18.56, 70% of initial price
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| Initial share price: | $26.52
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| Pricing date: | April 26
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| Settlement date: | May 1
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| Underwriter: | Barclays Capital
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