Published on 2/8/2006 in the Prospect News Biotech Daily and Prospect News Convertibles Daily.
New Issue: Barclays sells $1.5 million 11.85% exchangeables linked to Genentech
By Jennifer Chiou
New York, Feb. 8 - Barclays Bank plc priced $1.5 million of one-year 11.85% exchangeable notes linked to Genentech, Inc. stock, 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: | Genentech, Inc.
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Amount: | $1.5 million
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Maturity: | Feb. 9, 2007
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Coupon: | 11.85%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Genentech stock finishes below the initial price of $87.72 and it falls below the protection price of $70.18 between Feb. 6, 2006, and Feb. 6, 2007, in which case $1,000/$87.72 shares per $1,000 principal amount
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Protection price: | $70.18, 80% of initial price
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Initial price: | $87.72
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Pricing date: | Feb. 6
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Settlement date: | Feb. 9
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Underwriter: | Barclays Capital
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