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Barclays to price 9.25% reverse convertibles linked to Ford Motor
New York, July 8 - Barclays Bank plc plans to price 9.25% reverse convertible notes due Jan. 27, 2011 linked to Ford Motor Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Ford Motor shares fall below 75% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Ford Motor shares equal to $1,000 divided by the initial price.
The notes are expected to price on July 23 and settle on July 28.
Barclays Capital is the agent.
The Cusip number is 06740PDD5.
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