US Wrap: Barclays presents in quiet markets
Signs of life appeared in the US market yesterday following zero issuance on Tuesday. Barclays Capital launched four reverse convertible notes, confirming the revival of the structure. One of the products was linked to the equity of Burger King, amid yesterday's reports that fast food outfits are profiting from the recession. The one-year note pays a 10.6% annualised coupon with a 65% stock barrier before investors are repaid in stock.
Issuer
Product type
Underlying
Pricing date
Maturity date
Barclays Bank PLC
Reverse Convertible
AT & T
Feb 24 2009
Feb 24 2010
Barclays Bank PLC
Reverse Convertible
Merck & Co
Feb 24 2009
Feb 24 2010
Barclays Bank PLC
Reverse Convertible
Intel Corp
Feb 24 2009
Feb 24 2010
Barclays Bank PLC
Reverse Convertible
Burger King
Feb 24 2009
Feb 24 2010
Source: Future Value Consultants & SEC filings
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