Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Southwestern Energy Co. > News item |
Barclays plans 9% STEP Income Securities tied to Southwestern Energy
By Marisa Wong
Madison, Wis., April 28 – Barclays Bank plc plans to price 9% STEP Income Securities due May 2016 linked to Southwestern Energy Co. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
If the price of Southwestern stock finishes at or above the step level – 109% of the initial price – the payout at maturity will be par of $10 plus a step payment of 1% to 5% that will be set at pricing.
If the stock finishes at or above the initial level but below the step level, the payout will be par.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The securities will price and settle in May.
© 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.