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Barclays to price 12% reverse convertibles linked to NYSE Euronext
By Jennifer Chiou
New York, Sept. 11 - Barclays Bank plc plans to price 12% reverse convertible notes due Sept. 26, 2008 linked to the common stock of NYSE Euronext, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless NYSE Euronext stock falls by more than 25% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of NYSE Euronext shares equal to $1,000 divided by the initial share price or, at Barclays' option, the cash value of par minus the share price decline.
The notes will price on Sept. 25 and settle on Sept. 28.
Barclays Capital will be the agent.
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