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Barclays plans issue of 19% reverse convertibles linked to SanDisk
By Angela McDaniels
Seattle, Oct. 6 - Barclays Bank plc plans to price an issue of 19% reverse convertible notes due Jan. 26, 2007 linked to SanDisk Corp. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless SanDisk stock falls below the protection 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 SanDisk shares equal to $1,000 divided by the initial share price.
The notes will price on Oct. 24 and settle on Oct. 27.
Barclays Capital Inc. will be the agent.
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