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Barclays plans 7%-9.25% airbag yield optimization notes on Genworth
By Jennifer Chiou
New York, Nov. 21 - Barclays Bank plc plans to price 7% to 9.25% annualized airbag yield optimization notes due May 31, 2013 linked to the common stock of Genworth Financial, Inc., according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Genworth shares equal to $1,000 divided by the conversion price. The conversion price will be 70% of the initial share price.
The notes (Cusip: 06742A396) are expected to price on Nov. 28 and settle on Nov. 30.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
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