By Angela McDaniels
Tacoma, Wash., March 2 - Barclays Bank plc priced an additional $10 million of its 9.25% reverse convertible notes due Nov. 26, 2010 linked to the common stock of Boston Scientific Corp., according to a 424B3 filing with the Securities and Exchange Commission.
The original $1 million of notes priced Nov. 23, and $5 million more priced Feb. 19. The total issue size is now $16 million.
Interest is payable monthly.
The payout at maturity will be par in cash unless Boston Scientific shares fall below the protection price - 75% of the initial share price - during the life of the notes and finish below the initial price, in which case the payout will be a number of shares of Boston Scientific stock equal to $1,000 divided by the initial share price.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | Boston Scientific Corp. (Symbol: BSX)
|
| Amount: | $16 million, increased from $1 million
|
| Maturity: | Nov. 26, 2010
|
| Coupon: | 9.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Boston Scientific shares fall below protection price during life of notes and finish below initial price, in which case 122.54902 Boston Scientific shares
|
| Initial price: | $8.16
|
| Protection price: | $6.12, 75% of initial price
|
| Pricing dates: | Nov. 23 for $1 million; Feb. 19 for $5 million; March 2 for $10 million
|
| Settlement dates: | Nov. 30 for original issue; Feb. 22 for first add-on; March 3 for second add-on
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06739J3Y7
|
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