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Barclays plans issue of 11% exchangeables linked to Southern Copper
By Angela McDaniels
Seattle, April 6 - Barclays Bank plc plans to price an issue of 11% exchangeable notes due April 27, 2007 linked to Southern Copper Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless Southern Copper stock finishes below the initial price and falls below the protection price, 70% of the initial share price, between April 25, 2006 and April 25, 2007, in which case the payout will be $1,000 divided by the initial share price.
Barclays Capital will be the agent for the offering.
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