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Barclays to price 16% reverse convertibles linked to Chicago Bridge
New York, Aug. 13 - Barclays Bank plc plans to price 16% reverse convertible notes due Feb. 27, 2009 linked to Chicago Bridge & Iron Co. N.V. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Chicago Bridge shares fall below 70% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Chicago Bridge shares equal to $1,000 divided by the initial price.
The notes are expected to price on Aug. 26 and settle on Aug. 29.
Barclays Capital is the agent.
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