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Barclays plans issue of 17% exchangeables linked to General Motors
By Jennifer Chiou
New York, Aug. 8 - Barclays Bank plc plans to price an issue of 17% exchangeable notes due Aug. 31, 2007 linked to General Motors Corp. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless General Motors stock finishes below the initial price and falls below the protection price, 60% of the initial share price, between Aug. 28, 2006 and Aug. 28, 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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