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Barclays to price 17.5% reverse convertibles linked to Goldcorp
By Laura Lutz
Washington, Nov. 28 - Barclays Bank plc plans to price an issue of 17.5% reverse convertible notes due May 31, 2007 linked to the common stock of Goldcorp Inc.
Interest will be paid monthly.
At maturity, investors will receive par unless Goldcorp stock falls below the knock-in price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Goldcorp shares equal to $1,000 divided by the initial share price.
The notes were scheduled to price on Nov. 28 and settle on Nov. 30.
Barclays Capital will be the agent.
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