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Barclays plans issue of 13.5% reverse convertibles linked to Meridian Gold
By Jennifer Chiou
New York, Nov. 2 - Barclays Bank plc plans to price an issue of 13.5% reverse convertible notes due Nov. 30, 2007 linked to Meridian Gold Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless Meridian Gold stock finishes below the initial price and falls below the protection price, 70% of the initial share price, between Nov. 28, 2006 and Nov. 28, 2007, in which case the payout will be a number of Meridian Gold shares equal to $1,000 divided by the initial share price.
Barclays Capital Inc. will be the agent.
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