Published on 4/28/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5 million 8% reverse convertibles linked to Ford Motor
New York, April 28 - Barclays Bank plc priced $5 million of 8% reverse convertible notes due April 27, 2012 linked to Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Ford Motor shares fall below the protection price of $12.53, 80% of the initial price of $15.66, during the life of the notes and finish below the initial price in which case the payout will be 63.85696 shares of Ford Motor stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | Ford Motor Co. (Symbol: F)
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Amount: | $5 million
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Maturity: | April 27, 2012
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Coupon: | 8%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Ford Motor shares fall below the protection price of $12.53, 80% of the initial price, and finish below the initial price, in which case 63.85696 shares of Ford Motor stock
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Initial price: | $15.66
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Protection price: | $12.53, 80% of $15.66
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Exchange ratio: | 63.85696
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Pricing date: | April 26
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Settlement date: | April 29
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Agent: | Barclays Capital
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Fees: | 2.1%
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Cusip: | 06741JFW4
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