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Barclays to price 11.25% reverse convertibles linked to Nokia
New York, May 3 - Barclays Bank plc plans to price 11.25% reverse convertible notes due May 30, 2012 linked to Nokia Corp. (American depositary shares) shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Nokia 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 Nokia shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 25 and settle on May 31.
Barclays Capital is the agent.
The Cusip number is 06741JGV5.
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