New Issue: Barclays prices $4.38 million 7.75% reverse convertibles linked to Disney

By Angela McDaniels

Tacoma, Wash., Aug. 25 – Barclays Bank plc priced $4.38 million of 7.75% reverse convertible notes due Aug. 24, 2016 linked to Walt Disney Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless Disney shares close below the knock-in barrier price, 75% of the initial share price, during the life of the notes and finish below the initial price, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price or, at the issuer’s option, receive a number of Disney shares equal to $1,000 divided by the initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Walt Disney Co. (Symbol: DIS)
Amount:	$4,383,000
Maturity:	Aug. 24, 2016
Coupon:	7.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Disney shares close below knock-in barrier price during life of notes and finish below initial price, in which case full exposure to stock’s decline or, at the issuer’s option, receipt of 9.98901 Disney shares
Initial share price:	$100.11
Knock-in barrier price:	$75.08, 75% of initial share price
Pricing date:	Aug. 21
Settlement date:	Aug. 26
Agent:	Barclays
Fees:	0.25%
Cusip:	06741WBC3

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