Barclays to price 10.2% reverse convertibles linked to Las Vegas Sands

By Angela McDaniels

Seattle, March 30 - Barclays Bank plc plans to price an offering of 10.2% reverse convertible notes due April 23, 2008 linked to the common stock of Las Vegas Sands Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be paid monthly.

The payout at maturity will be par unless Las Vegas Sands stock declines by more than 35% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Las Vegas Sands shares equal to $1,000 divided by the initial share price.

The notes are expected to price on April 20 and settle on April 25.

Barclays Capital will be the agent.

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