Published on 9/4/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $250,000 15.2% reverse convertibles linked to AngloGold Ashanti
New York, Sept. 4 - Barclays Bank plc priced $250,000 of 15.2% reverse convertible notes due Dec. 4, 2013 linked to AngloGold Ashanti Ltd shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless AngloGold Ashanti shares fall below the protection price of $8.67, 65% of the initial price of $13.34, during the life of the notes and finish below the initial price in which case the payout will be 74.96252 shares of AngloGold Ashanti stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | AngloGold Ashanti Ltd (Symbol: AU)
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Amount: | $250,000
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Maturity: | Dec. 4, 2013
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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 unless AngloGold Ashanti shares fall below the protection price of $8.67, 65% of the initial price, and finish below the initial price, in which case 74.96252 shares of AngloGold Ashanti stock
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Initial price: | $13.34
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Protection price: | $8.67, 65% of $13.34
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Exchange ratio: | 74.96252
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Pricing date: | Aug. 29
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Settlement date: | Sept. 4
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Agent: | Barclays Capital
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Cusip: | 06741J3T4
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