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Barclays to price 11.5% reverse convertibles linked to Halliburton
By Laura Lutz
Washington, Nov. 28 - Barclays Bank plc plans to price an issue of 11.5% reverse convertible notes due May 31, 2007 linked to the common stock of Halliburton Co.
Interest will be paid monthly.
At maturity, investors will receive par unless Halliburton stock falls below the knock-in price - 80% 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 Halliburton shares equal to $1,000 divided by the initial share price.
The notes will price on Nov. 28 and settle on Nov. 30.
Barclays Capital will be the agent.
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