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Barclays plans issue of 13% exchangeables linked to Southwestern Energy
By Jennifer Chiou
New York, June 8 - Barclays Bank plc plans to price an issue of 13% exchangeable notes due June 29, 2007 linked to Southwestern Energy Co. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless Southwestern Energy stock finishes below the initial price and falls below the protection price, 70% of the initial share price, between June 27, 2006 and June 27, 2007, in which case the payout will be $1,000 divided by the initial share price.
The notes will be issued on June 30.
Barclays Capital will be the agent.
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