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Barclays plans issue of 8.5% exchangeables linked to Aetna
By Jennifer Chiou
New York, May 3 - Barclays Bank plc plans to price an issue of 8.5% exchangeable notes due May 31, 2007 linked to Aetna Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless Aetna stock finishes below the initial price and falls below the protection price, 80% of the initial share price, between May 25, 2006 and May 25, 2007, in which case the payout will be $1,000 divided by the initial share price.
Barclays Capital will be the agent.
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