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Barclays plans Knock-Out Buffered Super Track Notes linked to Goldcorp
By Angela McDaniels
Tacoma, Wash., April 1 - Barclays Bank plc plans to price 0% Knock-Out Buffered Super Track Notes due April 8, 2010 linked to the common stock of Goldcorp Inc., according to an FWP filing with the Securities and Exchange Commission.
If Goldcorp stock closes above the knock-out barrier - 140% of the initial share price - on any day during the life of the notes, the payout at maturity will be par plus 12%.
If Goldcorp stock remains at or below the knock-out barrier, the payout will be:
• Par plus any share price gain;
• Par if the share price declines by 25% or less; or
• Par minus 1% for every 1% decline beyond 25% or, at Barclays' option, a number of Goldcorp shares that have a value equal to this cash amount.
The notes are expected to price April 8 and settle April 14.
Barclays Capital Inc. is the agent.
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