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Barclays plans 6%-8% airbag yield autocallables on Chesapeake Energy
By Susanna Moon
Chicago, March 20 - Barclays Bank plc plans to price 6% to 8% airbag autocallableyield optimization notes due March 31, 2014 linked to Chesapeake Energy Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called if the stock closes above its initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Chesapeake Energy shares equal to $1,000 divided by the conversion price. The conversion price will be 75% of the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
The notes will price on March 26 and settle on March 28.
The Cusip number is 06742C533.
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