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Prospect News home > News index > List of issuers V > Headlines for Vertex Pharmaceuticals Inc. > News item |
Barclays plans 9%-11% airbag yield notes tied to Vertex Pharmaceuticals
By Susanna Moon
Chicago, Feb. 21 - Barclays Bank plc plans to price 9% to 11% annualized airbag yield optimization notes due Aug. 28, 2013 linked to Vertex Pharmaceuticals Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Vertex Pharmaceuticals shares equal to $1,000 divided by the conversion price. The conversion price will be 75% of the initial share price.
UBS Financial Services Inc. and Barclays are the underwriters.
The notes are expected to price on Feb. 22 and settle on Feb. 28.
The Cusip number is 06742C756.
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