By Angela McDaniels
Tacoma, Wash., Dec. 8 - Barclays Bank plc priced $3.5 million of 13% annualized buffered reverse convertible notes due June 10, 2009 linked to the common stock of Deere & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than 75% of the initial price, in which case the payout will be $250 in cash plus a number of Deere shares equal to $1,000 divided by the initial share price. At its option, Barclays can pay an equivalent amount of cash in lieu of the shares.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered reverse convertible notes
|
| Underlying stock: | Deere & Co. (Symbol: DE)
|
| Amount: | $3.5 million
|
| Maturity: | June 10, 2009
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than protection price, 31.259769 Deere shares plus $250 in cash; otherwise, par
|
| Initial share price: | $31.99
|
| Protection price: | $23.99, 75% of initial price
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 10
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.5%
|
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