Published on 3/19/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $300,000 9.75% reverse convertibles linked to Chesapeake Energy
New York, March 19 - Barclays Bank plc priced $300,000 of 9.75% reverse convertible notes due March 20, 2013 linked to Chesapeake Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Chesapeake Energy shares fall below the protection price of $18.33, 75% of the initial price of $24.44, during the life of the notes and finish below the initial price in which case the payout will be 40.91653 shares of Chesapeake Energy stock.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Reverse convertible notes
|
Underlying stock: | Chesapeake Energy Corp. (Symbol: CHK)
|
Amount: | $300,000
|
Maturity: | March 20, 2013
|
Coupon: | 9.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Chesapeake Energy shares fall below the protection price of $18.33, 75% of the initial price, and finish below the initial price, in which case 40.91653 shares of Chesapeake Energy stock
|
Initial price: | $24.44
|
Protection price: | $18.33, 75% of $24.44
|
Exchange ratio: | 40.91653
|
Pricing date: | March 15
|
Settlement date: | March 21
|
Agent: | Barclays Capital
|
Fees: | 2%
|
Cusip: | 06741JSR1
|
© 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.