Published on 11/29/2004 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $0.626 million 7.5% reverse exchangeables linked to Alcoa
New York, Nov. 29 - Barclays Bank plc priced $0.626 million of one-year 7.5% knock-in reverse exchangeable notes linked to Alcoa Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Issuer: | Barclays Bank plc
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Issue: | Knock-in reverse exchangeable senior medium-term notes
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Underlying stock: | Alcoa Inc.
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Amount: | $0.626 million
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Maturity: | Nov. 30, 2005
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Coupon: | 7.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash if Alcoa stock never trades below knock-in level, otherwise smaller of par in cash or $1,000/$33.75 shares of Alcoa stock
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Knock-in price: | $30.38, 90% of initial price of $33.75
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Exchange ratio: | $1,000/$33.75
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Exchange price: | $33.75 (initial level of Alcoa stock)
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Call: | Non-callable
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Lead manager: | Barclays Capital
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Distribution: | Off shelf
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