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Barclays plans issue of 8% exchangeables linked to AstraZeneca
By Jennifer Chiou
New York, April 5 - Barclays Bank plc announced it plans to issue one-year 8% exchangeable medium-term series A notes linked to AstraZeneca plc 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 AstraZeneca stock finishes below the initial price and it falls below the protection price, 90% 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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