Published on 8/30/2005 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $1.5 million 9.75% exchangeables linked to Allied Waste Industries
By Jennifer Chiou
New York, Aug. 30 - Barclays Bank plc priced $1.5 million of one-year 9.75% exchangeable notes linked to the common stock of Allied Waste Industries, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
| Issuer: | Barclays Bank plc
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| Issue: | Exchangeable medium-term series A notes
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| Underlying stock: | Allied Waste Industries, Inc.
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| Amount: | $1.5 million
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| Maturity: | Aug. 31, 2006
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| Coupon: | 9.75%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless Allied Waste Industries stock finishes below the initial price of $7.94 and it falls below the protection price of $6.35 between Aug. 26, 2005 and Aug. 28, 2006, in which case $1,000/$7.94 shares per $1,000 principal amount
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| Protection price: | $6.35, 80% of initial price
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| Initial price: | $7.94
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Underwriter: | Barclays Capital
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