Published on 9/24/2008 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 18.7% reverse convertibles linked to Rio Tinto
New York, Sept. 24 - Barclays Bank plc priced $1 million of 18.7% reverse convertible notes due Dec. 24, 2008 linked to Rio Tinto plc shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Rio Tinto shares fall below the protection price of $249.00, 75% of the initial price of $332.00, during the life of the notes and finish below the initial price in which case the payout will be 3.012048 shares of Rio Tinto stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Rio Tinto plc (Symbol: RTP)
|
Amount: | $1 million
|
Maturity: | Dec. 24, 2008
|
Coupon: | 18.7%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Rio Tinto shares fall below the protection price of $249.00, 75% of the initial price, and finish below the initial price, in which case 3.012048 shares of Rio Tinto stock
|
Initial price: | $332.00
|
Protection price: | $249.00, 75% of $332.00
|
Exchange ratio: | 3.012048
|
Pricing date: | Sept. 22
|
Settlement date: | Sept. 25
|
Agent: | Barclays Capital
|
Fees: | 1.375%
|
© 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.