Barclays plans issue of 10% exchangeables linked to Florida Rock Industries

By Jennifer Chiou

New York, April 5 - Barclays Bank plc announced it plans to issue one-year 10% exchangeable medium-term series A notes linked to Florida Rock Industries, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will mature on April 27, 2007.

Interest will be payable monthly.

At maturity, investors will receive par unless Florida Rock Industries stock finishes below the initial price and it falls below the protection price, 80% 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 per $1,000 principal amount.

Barclays Capital will be the underwriter.

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