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Barclays to price 9% reverse convertible notes linked to ConocoPhillips
By Jennifer Chiou
New York, May 29 - Barclays Bank plc plans to price 9% reverse convertible notes due June 11, 2008 linked to the common stock of ConocoPhillips, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless ConocoPhillips stock falls by more than 15% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of ConocoPhillips shares equal to $1,000 divided by the initial share price.
The notes will price on June 8 and settle on June 13.
LaSalle Financial Services, Inc. will be the agent.
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