Barclays plans 10.25% autocallable reverse convertibles tied to Tesoro

By Susanna Moon

Chicago, Oct. 11 - Barclays Bank plc plans to price 10.25% single observation autocallable reverse convertible notes due Oct. 30, 2014 linked to Tesoro Corp. shares, according to an FWP with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if the stock closes at or above the initial share price on any of three quarterly call valuation dates.

The payout at maturity will be par unless Tesoro shares finish below the 70% barrier level, in which case investors will receive par divided by the initial share price or, at the issuer's option, the cash value.

Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes will price on Oct. 28 and settle on Oct. 31.

The Cusip number is 06741J4T3.

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