Published on 8/14/2006 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $1.5 million 10.6% reverse convertibles linked to Aetna
By Angela McDaniels
Seattle, Aug. 14 - Barclays Bank plc priced $1.5 million of 10.6% reverse convertible notes due Aug. 16, 2007 linked to Aetna Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash if Aetna stock stays at or above the protection price of $28.328, 80% of the initial price, between Aug. 11, 2006 and Aug. 10, 2007 or finishes at or above the $35.41 initial price. Otherwise, the payout will be a number of shares of Aetna stock equal to $1,000 divided by the initial share price.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Aetna Inc.
|
Amount: | $1.5 million
|
Maturity: | Aug. 16, 2007
|
Coupon: | 10.6%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash if Aetna stock stays at or above the protection price during the life of the notes or finishes at or above the initial price; otherwise 28.24061 shares of Aetna stock
|
Initial share price: | $35.41
|
Protection price: | $28.328, 80% of initial share price
|
Pricing date: | Aug. 11
|
Settlement date: | Aug. 16
|
Agent: | Barclays Capital
|
|
© 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.