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Barclays to price 13% reverse convertibles linked to Ocwen Financial
New York, March 6 - Barclays Bank plc plans to price 13% reverse convertible notes due June 25, 2014 linked to Ocwen Financial Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Ocwen Financial shares fall below 65% 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 Ocwen Financial shares equal to $1,000 divided by the initial price.
The notes are expected to price on March 20 and settle on March 25.
Barclays Capital is the agent.
The Cusip number is 06741J6V6.
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