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Barclays plans issue of 9% exchangeables linked to Amazon
By Jennifer Chiou
New York, Feb. 7 - Barclays Bank plc announced it plans to issue one-year 9% exchangeable medium-term series A notes linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will mature on Feb. 28, 2007.
Interest will be payable monthly.
At maturity, investors will receive par unless Amazon stock finishes below the initial price and it falls below the protection price, 70% of the initial share price, between Feb. 24, 2006 and Feb. 26, 2007, in which case the payout will be $1,000 divided by the initial share price per $1,000 principal amount.
Barclays Capital will be the underwriter.
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