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Barclays to price 14% reverse convertibles linked to Amazon.com
By Angela McDaniels
Tacoma, Wash., May 6 - Barclays Bank plc plans to price 14% reverse convertible notes due May 29, 2009 linked to the common stock of Amazon.com, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Amazon.com stock falls by more than 25% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Amazon.com shares equal to $1,000 divided by the initial share price or, at Barclays' option, the equivalent value in cash.
The notes will price on May 27 and settle on May 30.
Barclays Capital Inc. will be the agent.
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