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Barclays plans 13.5%-16.25% reverse convertibles linked to Whole Foods
By Toni Weeks
San Diego, Oct. 13 - Barclays Bank plc plans to price 13.5% to 16.25% annualized reverse convertible notes due April 30, 2012 linked to the common stock of Whole Foods Market, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par in cash unless Whole Foods shares fall below 75% 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 Whole Foods shares equal to $1,000 divided by the initial price.
The notes (Cusip: 06741JPC7) are expected to price Oct. 26 and settle Oct. 31.
Barclays Capital Inc. is the agent.
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