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Barclays plans issue of 11.5% exchangeables linked to Chesapeake Energy
By Jennifer Chiou
New York, May 3 - Barclays Bank plc plans to price an issue of 11.5% exchangeable notes due May 31, 2007 linked to Chesapeake Energy Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless Chesapeake Energy stock finishes below the initial price and falls below the protection price, 80% of the initial share price, between May 25, 2006 and May 25, 2007, in which case the payout will be $1,000 divided by the initial share price.
Barclays Capital will be the agent.
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