By Marisa Wong
Madison, Wis., Nov. 2 - Barclays Bank plc priced an additional $3 million of 10.15% reverse convertible notes due March 31, 2011 linked to the shares of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
The additional notes bring the issue size to $4 million. The original $1 million of notes priced on Sept 27.
Interest is payable monthly.
The payout at maturity will be par in cash unless Halliburton shares fall below the protection price of $25.93, 80% of the initial price of $32.41, during the life of the notes and finish below the initial price, in which case the payout will be 30.854674 shares of Halliburton stock.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $4 million, increased from $1 million
|
| Maturity: | March 31, 2011
|
| Coupon: | 10.15%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Halliburton shares fall below the protection price of $25.93, 80% of the initial price, and finish below the initial price, in which case 30.854674 shares of Halliburton stock
|
| Initial price: | $32.41
|
| Protection price: | $25.93, 80% of $32.41
|
| Exchange ratio: | 30.854674
|
| Pricing dates: | Sept. 27 for $1 million; Nov. 2 for $3 million
|
| Settlement dates: | Sept. 30 for $1 million; Nov. 5 for $3 million
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06740PWN2
|
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