Published on 3/14/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $302,000 9% reverse convertibles linked to Under Armour
New York, March 14 - Barclays Bank plc priced $302,000 of 9% reverse convertible notes due March 17, 2014 linked to Under Armour, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Under Armour shares fall below the protection price of $36.38, 75% of the initial price of $48.51, during the life of the notes and finish below the initial price in which case the payout will be 20.61431 shares of Under Armour stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | Under Armour, Inc. (Symbol: UA)
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Amount: | $302,000
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Maturity: | March 17, 2014
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Coupon: | 9%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Under Armour shares fall below the protection price of $36.38, 75% of the initial price, and finish below the initial price, in which case 20.61431 shares of Under Armour stock
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Initial price: | $48.51
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Protection price: | $36.38, 75% of $48.51
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Exchange ratio: | 20.61431
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Pricing date: | March 13
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Settlement date: | March 18
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Agent: | Barclays Capital
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Cusip: | 06741JYE3
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