Barclays to price 13.5% reverse convertibles linked to Las Vegas Sands via LaSalle

By Laura Lutz

Des Moines, Oct. 12 - Barclays Bank plc plans to price an issue of 13.5% reverse convertible notes due Jan. 24, 2007 linked to the common stock of Las Vegas Sands Corp.

Interest will be paid quarterly.

At maturity, investors will receive par unless Las Vegas Sands stock falls below the knock-in price - 80% of the initial share price - 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 will price on Oct. 20.

LaSalle Financial Services, Inc. will be the lead agent.

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