By Susanna Moon
Chicago, Dec. 5 - Barclays Bank plc priced another $1 million principal amount of 11.9% reverse convertible notes due March 30, 2012 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $6.6 million. Previously, the issuer priced $100,000 of the notes on Sept. 27, $1 million on Oct. 13, $1 million on Oct. 26, $1.5 million on Nov. 2, $1 million on Nov. 14 and $1 million on Nov. 22.
Interest is payable monthly.
The payout at maturity will be par unless Halliburton shares close below the protection price -75% of the initial share price - during the life of the notes and finish below the initial share price, in which case the payout will be a number of shares of Halliburton stock equal to $1,000 divided by the initial share price.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | Halliburton Co. (NYSE: HAL)
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Amount: | $6.6 million, up from $100,000
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Maturity: | March 30, 2012
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Coupon: | 11.9%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Halliburton shares fall below protection price during life of notes and finish below initial price, in which case 29.019153 shares of Halliburton stock
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Initial share price: | $34.46
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Protection price: | $25.85, 75% of initial share price
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Pricing dates: | Sept. 27 for $100,000; Oct. 13 for $1 million; Oct. 26 for $1 million; Nov. 2 for $1.5 million; Nov. 14 for $1 million; Nov. 22 for $1 million; Dec. 1 for latest $1 million
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Settlement dates: | Sept. 30 for $100,000; Oct. 18 for $1 million; Oct. 31 for $1 million; Nov. 7 for $1.5 million; Nov. 17 for $1 million; Nov. 28 for $1 million; Dec. 6 for latest $1 million
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Agent: | Barclays Capital Inc.
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Fees: | 2%
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Cusip: | 06741JNA3
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