Published on 8/21/2006 in the Prospect News Convertibles Daily.
New Issue: Barclays releases details on $2 million 9.5% reverse convertibles linked to Popular
By Jennifer Chiou
New York, Aug. 21 - Barclays Bank plc released full details on the previously announced pricing of its $2 million of 9.5% reverse convertible notes due Aug. 22, 2007 linked to Popular, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash if Popular stock stays at or above the protection price, which is equal to the $18.78 initial price, between Aug. 17, 2006 and Aug. 17, 2007. Otherwise, the payout will be in Popular 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: | Popular, Inc.
|
Amount: | $2 million
|
Maturity: | Aug. 22, 2007
|
Coupon: | 9.5%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash if Popular stock stays at or above the initial price; otherwise shares of Popular stock equal to $1,000 divided by the initial price
|
Initial price: | $18.78
|
Pricing date: | Aug. 17
|
Settlement date: | Aug. 22
|
Calculation agent: | Barclays Capital
|
|
© 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.