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Barclays redeems all $4 million reverse convertibles tied to E*Trade
By Marisa Wong
Madison, Wis., May 15 - Barclays Bank plc said it redeemed in full its $4 million of outstanding single observation callable reverse convertible notes due Feb. 13, 2013 linked to E*Trade Financial Corp. shares.
The notes (Cusip: 06741JRY7) were redeemed on May 14 at par plus accrued interest to the redemption date. Prior to redemption, the coupon was equal to 9% per year.
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