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Barclays to price 14.4% reverse convertibles linked to Deere
By Susanna Moon
Chicago, May 20 - Barclays Bank plc plans to price six-month 14.4% annualized reverse convertible notes linked to the common stock of Deere & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Deere stock falls below the knock-in price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, the payout at maturity will be a number of Deere shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
Pricing and settlement dates were not disclosed in the filing.
Barclays Capital Inc. is the agent.
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