Published on 4/27/2005 in the Prospect News Convertibles Daily.
New Issue: Barclays sells $1 million 7.75% exchangeables linked to Wendy's
New York, April 27 - Barclays Bank plc priced $1 million of one-year 7.75% exchangeable notes linked to Wendy's International, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Issuer: | Barclays Bank plc
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Issue: | Exchangeable senior medium-term notes
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Underlying stock: | Wendy's International, Inc.
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Amount: | $1 million
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Maturity: | May 1, 2006
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Coupon: | 7.75%, paid monthly
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Price: | Par
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Payout at maturity: | Par unless Wendy's stock finishes below the initial price of $41.73 and it falls below protection price of $35.47 between April 26, 2005 and April 26, 2006, in which case $1,000/$41.73 shares per $1,000 principal amount
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Protection price: | $35.47, 85% of initial price
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Initial share price: | $41.73
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Pricing date: | April 26
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Settlement date: | May 1
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Underwriter: | Barclays Capital
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