[ic] [item-code] within a [bounce] tag?

[Interchange User]

Greetings,

I am trying to do the following:

 [bounce page=[item-code]]

when when I do this, I end up with a URL like
http://server/cgi-bin/catalog/%5Bitem-code.html

I've tried throwing an interpolate tag into the mix
 [bounce page=[item-code] interpolate=1]

Tried quoting the argument:
 [bounce page="[item-code]" interpolate=1]

Tried using href instead of page
 [bounce href=[item-code]]

And probably half a dozen other things that didn't work.  Am I doing 
something wrong or is there a reason that [item-code] is not 
interpolated inside a [bounce] tag?

Thanks,

Peter