Published on 2/7/2007 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 9.05% notes linked to Charles Schwab
By Angela McDaniels
Seattle, Feb. 7 - Barclays Bank plc priced a $1 million offering of 9.05% reverse convertible notes due Feb. 8, 2008 linked to the common stock of The Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Charles Schwab stock falls below the protection price of $15.35 during the life of the notes and finishes below the initial share price of $19.19, in which case the payout will be a number of Charles Schwab shares equal to $1,000 divided by the initial share price.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | The Charles Schwab Corp.
|
Amount: | $1 million
|
Maturity: | Feb. 8, 2008
|
Coupon: | 9.05%, payable monthly
|
Price: | Par
|
Payout at maturity: | If Charles Schwab stock falls below the protection price during the life of the notes and finishes below the initial share price, 52.11 Charles Schwab shares; otherwise, par
|
Initial share price: | $19.19
|
Protection price: | $15.35, 80% of initial share price
|
Pricing date: | Feb. 6
|
Settlement date: | Feb. 9
|
Agent: | Barclays Capital Inc.
|
Agent fees: | 2%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.