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Barclays to price 9% reverse convertibles linked to Western Refining
New York, May 13 - Barclays Bank plc plans to price 9% reverse convertible notes due Aug. 15, 2013 linked to Western Refining, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Western Refining shares fall below 69.69% 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 Western Refining shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 10 and settle on May 15.
Barclays Capital is the agent.
The Cusip number is 06741J2A6.
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