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Barclays Bank talks $250 million cash-settled equity linked notes tied to Visa at 104-104.5
By Abigail W. Adams
Portland, Me., Feb. 11 – Barclays Bank plc plans to price $250 million cash-settled equity linked notes tied to Visa Inc. after the market close on Wednesday with price talk for a coupon of 0%, an initial conversion premium of 20% and a reoffer price of 104 to 104.5, according to a market source.
Barclays is the bookrunner for the registered offering, which has the potential to be upsized by $50 million.
The notes are non-callable and have no put features. There is dividend protection but no takeover protection.
Barclays Bank is a London-based multinational investment bank and financial services company.
Visa is a San Francisco-based multinational financial services company.
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