Published on 3/30/2005 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $1.439 million 16.70% exchangeables linked to AMR
By Caroline Salls
Pittsburgh, March 30 - Barclays Bank plc priced $1.439 million one-year 16.70% exchangeable notes linked to AMR Corp. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | Barclays Bank plc
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Issue: | Exchangeable senior medium-term notes
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Underlying stock: | AMR Corp.
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Amount: | $1.439 million
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Maturity: | March 31, 2006
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Coupon: | 16.70%, paid monthly
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Price: | Par
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Payout at maturity: | Par unless AMR stock finishes below the initial price of $9.73 and it falls below protection price of $4.87 between March 31, 2005 and March 31, 2006, in which case $1,000/$9.73 shares per $1,000 principal amount
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Protection price: | $4.87, 50% of the initial price
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Initial share price: | $9.73
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Pricing date: | March 28
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Settlement date: | March 31
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Underwriter: | Barclays Capital
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