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Barclays plans to price barrier notes due August 2013 linked to gold
By Jennifer Chiou
New York, Feb. 16 - Barclays Bank plc plans to price 0% barrier notes due Aug. 22, 2013 linked to gold, according a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the price of gold ever closes below the barrier - 75% of the initial price - during the life of the notes.
If a barrier event never occurs, the payout at maturity will be par plus the absolute value of the return, subject to a cap of 15%.
Otherwise, investors will be exposed to any losses, and any gains will also be capped at 15%.
The notes (Cusip: 06738KR37) will price on Feb. 17 and settle on Feb. 23.
Barclays Capital Inc. is the agent.
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