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Barclays to price 9.25% reverse convertibles linked to Bank of America
New York, June 30 - Barclays Bank plc plans to price 9.25% reverse convertible notes due July 27, 2012 linked to Bank of America Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Bank of America shares fall below 80% 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 Bank of America shares equal to $1,000 divided by the initial price.
The notes are expected to price on July 26 and settle on July 29.
Barclays Capital is the agent.
The Cusip number is 06741JJT7
US06741JJT79.
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