New Issue: Barclays prices $100,000 18.25% reverse convertibles linked to First Solar

New York, April 27 - Barclays Bank plc priced $100,000 of 18.25% reverse convertible notes due April 30, 2013 linked to First Solar, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless First Solar shares fall below the protection price of $12.81, 70% of the initial price of $18.30, during the life of the notes and finish below the initial price in which case the payout will be 54.644809 shares of First Solar stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	First Solar, Inc. (Symbol: FSLR)
Amount:	$100,000
Maturity:	April 30, 2013
Coupon:	18.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless First Solar shares fall below the protection price of $12.81, 70% of the initial price, and finish below the initial price, in which case 54.644809 shares of First Solar stock
Initial price:	$18.30
Protection price:	$12.81, 70% of $18.30
Exchange ratio:	54.644809
Pricing date:	April 25
Settlement date:	April 30
Agent:	Barclays Capital
Fees:	2.5%
Cusip:	06741JB57

© 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.