Published on 12/31/2008 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.5 million 17% reverse convertibles linked to Monsanto
New York, Dec. 30 - Barclays Bank plc priced $4.5 million of 17% reverse convertible notes due June 26, 2009 linked to Monsanto Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Monsanto shares fall below the protection price of $39.76, 60% of the initial price of $66.26, during the life of the notes and finish below the initial price in which case the payout will be 15.092062 shares of Monsanto stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Monsanto Co. (Symbol: MON)
|
Amount: | $4.5 million
|
Maturity: | June 26, 2009
|
Coupon: | 17%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Monsanto shares fall below the protection price of $39.76, 60% of the initial price, and finish below the initial price, in which case 15.092062 shares of Monsanto stock
|
Initial price: | $66.26
|
Protection price: | $39.76, 60% of $66.26
|
Exchange ratio: | 15.092062
|
Pricing date: | Dec. 23
|
Settlement date: | Dec. 31
|
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.