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Barclays to price 9.1% reverse convertibles linked to Halliburton
By Susanna Moon
Chicago, June 11 - Barclays Bank plc plans to price 9.1% annualized reverse convertible notes due Dec. 31, 2008 linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Halliburton stock falls by more than 20% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Halliburton shares equal to $1,000 divided by the initial share price or, at Barclays' option, the equivalent cash value.
The notes will price on June 25 and settle on June 30.
Barclays Capital Inc. will be the agent.
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