By Toni Weeks
San Diego, May 26 - Barclays Bank plc priced $10 million of additional 8% annualized reverse convertible notes due April 27, 2012 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
This brings the issue size to $15 million. The original $5 million of notes priced April 26.
The payout at maturity will be par in cash unless Ford shares fall below the protection price of $12.53, 80% of the $15.66 initial price, during the life of the notes and finish below the initial price, in which case the payout will be 63 shares of Ford stock.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | Ford Motor Co. (Symbol: F)
|
| Amount: | $15 million, increased from $5 million
|
| Maturity: | April 27, 2012
|
| Coupon: | 8%, payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par in cash unless Ford shares fall below the protection price of $12.53 and finish below the initial price, in which case 63 shares of Ford stock
|
| Initial price: | $15.66
|
| Protection price: | $12.53, 80% of initial price
|
| Pricing dates: | April 26 for original issue; May 25 for add-on
|
| Settlement dates: | April 29 for original issue; May 31 for add-on
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.1%
|
| Cusip: | 06741JDV8
|
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