By Angela McDaniels
Tacoma, Wash., Feb. 3 - Barclays Bank plc priced an additional $5 million of 11.5% reverse convertible notes due July 29, 2011 linked to the common stock of USG Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The original $1.5 million of notes priced Jan. 26. The total issue size is now $6.5 million.
The payout at maturity will be par in cash unless USG shares fall below the protection price - 70% of the initial share price - during the life of the notes and finish below the initial share price, in which case the payout will be a number of shares of USG 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: | USG Corp. (Symbol: USG)
|
| Amount: | $6.5 million, increased from $1.5 million
|
| Maturity: | July 29, 2011
|
| Coupon: | 11.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless USG shares fall below protection price during life of notes and finish below initial price, in which case 57.971014 shares of USG stock
|
| Initial share price: | $17.25
|
| Protection price: | $12.08, 70% of initial share price
|
| Pricing dates: | Jan. 26 for $1.5 million; Feb. 3 for $5 million
|
| Settlement dates: | Jan. 31 for original issue; Feb. 4 for add-on
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.625%
|
| Cusip: | 06741JBG3
|
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