Published on 3/29/2007 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3 million 9.75% reverse convertibles linked to Humana
By Jennifer Chiou
New York, March 29 - Barclays Bank plc priced $3 million of 9.75% reverse convertible notes due Sept. 28, 2007 linked to Humana, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par in cash if Humana stock stays at or above the protection price, 80% of the initial price of $59.45, during the life of the notes and finishes at or above the initial share price. Otherwise, the payout will be in Humana stock, with the number of shares equal to $1,000 divided by the initial share price.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Humana, Inc.
|
Amount: | $3 million
|
Maturity: | Sept. 28, 2007
|
Coupon: | 9.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash if Humana stock stays at or above the protection price of $47.56 during the life of the notes and finishes at or above the initial share price; otherwise Humana shares equal to $1,000 principal amount divided by the initial price
|
Initial share price: | $59.45
|
Protection price: | $47.56, 80% of $59.45
|
Pricing date: | March 27
|
Settlement date: | March 30
|
Agent: | Barclays Capital
|
Fees: | 1.625%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.