Published on 9/21/2005 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $1.5 million 10.75% exchangeables linked to Parker Driller
New York, Sept. 21 - Barclays Bank plc priced $1.5 million of one-year 10.75% exchangeable notes linked to the common stock of Parker Drilling Co., 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: | Parker Drilling Co.
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| Amount: | $1.5 million
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| Maturity: | Sept. 25, 2006
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| Coupon: | 10.75%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless Parker Drilling stock finishes below the initial price of $8.68 and it falls below the protection price of $6.08 between Sept. 16, 2005 and Sept. 18, 2006, in which case $1,000/$8.68 shares per $1,000 principal amount
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| Protection price: | $6.08, 70% of initial price
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| Initial price: | $8.68
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 23
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| Underwriter: | Barclays Capital
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