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Barclays plans 14.8% six-month reverse convertibles linked to GameStop
By Susanna Moon
Chicago, Oct. 14 – Barclays Bank plc plans to price 14.8% annualized reverse convertible notes due Feb. 2, 2015 linked to GameStop Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable on Nov. 30, Dec. 31 and at maturity.
The payout at maturity will be par in cash unless GameStop shares fall below 75% 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 GameStop shares equal to $1,000 divided by the initial price.
The notes are expected to price on Oct. 28 and settle on Oct. 31.
Barclays Capital is the agent.
The Cusip number is 06741JX53.
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