By Angela McDaniels
Tacoma, Wash., May 14 - Barclays Bank plc priced $7.5 million of enhanced equity-linked convertible notes due Dec. 18, 2009 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
The seven-month notes carry an annualized coupon of 15%. Interest is payable monthly.
Each note has a face value of $21.90, which is equal to the closing price of Halliburton stock on the pricing date.
The payout at maturity will be par plus the share price return, subject to a maximum return of 15.9%.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Enhanced equity-linked convertible notes
|
| Underlying stock: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $7,500,005
|
| Maturity: | Dec. 18, 2009
|
| Coupon: | 15%, payable monthly
|
| Price: | Par of $21.90
|
| Payout at maturity: | Par plus any share price gain, capped at 15.9%; exposure to losses
|
| Initial share price: | $21.90
|
| Pricing date: | May 13
|
| Settlement date: | May 20
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
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