Published on 5/28/2009 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 20% reverse convertibles linked to Harley-Davidson
New York, May 28 - Barclays Bank plc priced $1 million of 20% reverse convertible notes due Aug. 31, 2009 linked to Harley-Davidson, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Harley-Davidson shares fall below the protection price of $11.10, 65% of the initial price of $17.08, during the life of the notes and finish below the initial price in which case the payout will be 58.548009 shares of Harley-Davidson stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Reverse convertible notes
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Underlying stock: | Harley-Davidson, Inc. (Symbol: HOG)
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Amount: | $1 million
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Maturity: | Aug. 31, 2009
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Coupon: | 20%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Harley-Davidson shares fall below the protection price of $11.10, 65% of the initial price, and finish below the initial price, in which case 58.548009 shares of Harley-Davidson stock
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Initial price: | $17.08
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Protection price: | $11.10, 65% of $17.08
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Exchange ratio: | 58.548009
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Pricing date: | May 26
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Settlement date: | May 29
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Agent: | Barclays Capital
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Fees: | 1.375%
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