Published on 2/25/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 12.1% reverse convertibles linked to Ford Motor
New York, Feb. 25 - Barclays Bank plc priced $1 million of 12.1% reverse convertible notes due May 27, 2010 linked to Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Ford Motor shares fall below the protection price of $9.28, 80% of the initial price of $11.60, during the life of the notes and finish below the initial price in which case the payout will be 86.206897 shares of Ford Motor stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Ford Motor Co. (Symbol: F)
|
Amount: | $1 million
|
Maturity: | May 27, 2010
|
Coupon: | 12.1%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Ford Motor shares fall below the protection price of $9.28, 80% of the initial price, and finish below the initial price, in which case 86.206897 shares of Ford Motor stock
|
Initial price: | $11.60
|
Protection price: | $9.28, 80% of $11.60
|
Exchange ratio: | 86.206897
|
Pricing date: | Feb. 23
|
Settlement date: | Feb. 26
|
Agent: | Barclays Capital
|
Fees: | 0.15%
|
Cusip: | 06740JUK4
|
© 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.