By Susanna Moon
Chicago, March 4 - Barclays Bank plc priced another $5 million of 11.5% reverse convertible notes due Feb. 28, 2012 linked to InterOil Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $7 million, up from $2 million.
The payout at maturity will be par in cash unless InterOil shares fall below the protection price - 70% of the initial price - during the life of the notes and finish below the initial price in which case the payout will be a number of shares of InterOil stock equal to $1,000 divided by the initial share price.
Barclays Capital is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | InterOil Corp. (Symbol: IOC)
|
| Amount: | $7 million, up from $2 million
|
| Maturity: | Feb. 28, 2012
|
| Coupon: | 11.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless InterOil shares fall below the protection price of finish below the initial price, in which case 13.190872 shares of InterOil stock
|
| Initial price: | $75.81
|
| Protection price: | $53.07, 70% of initial price
|
| Pricing date: | Feb. 23 for $2 million; March 3 for $5 million
|
| Settlement date: | Feb. 28 for $2 million; March 7 for $5 million
|
| Agent: | Barclays Capital
|
| Fees: | 2.5%
|
| Cusip: | 06741JDW6
|
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