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Barclays plans issue of 13.5% reverse convertibles linked to Pacific Ethanol
By Angela McDaniels
Seattle, Sept. 12 - Barclays Bank plc plans to price an issue of 13.5% reverse convertible notes due Sept. 28, 2007 linked to the common stock of Pacific Ethanol, Inc., according to an FWP filing with the Securities and Exchange Commission.
The settlement date will be Sept. 29.
Interest will be payable monthly.
Payout at maturity will be par unless Pacific Ethanol stock finishes below the initial price and falls below the protection price, 60% of the initial share price, between Sept. 22, 2006 and Sept. 21, 2007, in which case the payout will be a number of Pacific Ethanol shares equal to $1,000 divided by the initial share price.
Barclays Capital Inc. will be the agent.
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