Published on 2/26/2007 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.5 million 9.5% notes linked to Halliburton
By Angela McDaniels
Seattle, Feb. 26 - Barclays Bank plc priced a $2.5 million offering of 9.5% reverse convertible notes due Feb. 27, 2008 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Halliburton stock falls below the protection level of $25.24 during the life of the notes and finishes below the initial share price of $31.55, in which case the payout will be a number of Halliburton shares equal to $1,000 divided by the initial share price.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Halliburton Co.
|
Amount: | $2.5 million
|
Maturity: | Feb. 27, 2008
|
Coupon: | 9.5%, payable monthly
|
Payout at maturity: | If Halliburton falls below the protection level during the life of the notes and finishes below the initial share price, 13.69572 shares of Halliburton stock; otherwise, par
|
Initial share price: | $31.55
|
Protection level: | $25.24, 80% of $31.55
|
Pricing date: | Feb. 23
|
Settlement date: | Feb. 28
|
Agent: | Barclays Capital Inc.
|
Agent fees: | 2.5%
|
© 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.