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Barclays to price 12.85% reverse convertibles linked to Advanced Micro Devices
By Laura Lutz
Des Moines, April 4 - Barclays Bank plc plans to price an issue of 12.85% reverse convertible notes due April 25, 2008 linked to Advanced Micro Devices, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Advanced Micro Devices stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Advanced Micro Devices shares equal to $1,000 divided by the initial share price.
The notes will price on April 20 and settle on April 27.
Barclays Capital will be the agent.
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