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Barclays to price 12.6% reverse convertibles linked to Headwaters
By E. Janene Geiss
Philadelphia, April 16 - Barclays Bank plc plans to price an offering of 12.6% reverse convertible notes due Nov. 1, 2007 linked to the common stock of Headwaters Inc. according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Headwaters stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Headwaters shares equal to $1,000 divided by the initial share price.
The notes will price April 27 and settle May 2.
Barclays Capital will be the agent.
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