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Barclays plans 10.6% reverse convertibles linked to EOG Resources
By Marisa Wong
Madison, Wis., Dec. 10 – Barclays Bank plc plans to price 10.6% reverse convertible notes due June 26, 2015 linked to EOG Resources, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
A knock-in event occurs if the stock closes below the knock-in barrier price, 75% of the initial price, on any day during the life of the notes.
The payout at maturity will be par unless the final share price is less than the initial price and a knock-in event has occurred, in which case the payout will be par plus the stock return or, at the issuer’s option, a number of EOG shares equal to $1,000 divided by the initial share price.
Barclays is the agent.
The notes will price on Dec. 23 and settle on Dec. 29.
The Cusip number is 06741JY60.
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