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Barclays plans issue of 10% exchangeables linked to Oil Services HOLDRS Trust
By Jennifer Chiou
New York, June 5 - Barclays Bank plc plans to price an issue of 10% exchangeable notes due June 14, 2007 linked to Oil Services HOLDRS Trust stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes are expected to price on Friday.
At maturity, investors will receive par unless Oil Services HOLDRS Trust stock finishes below the initial price and falls below the protection price, 70% of the initial share price, between June 14, 2006 and June 14, 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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