Barclays to price 9.6% reverse convertibles linked to General Electric

By E. Janene Geiss

Philadelphia, Nov. 16 - Barclays Bank plc plans to price reverse convertible notes due May 23, 2008 linked to General Electric Co. common stock, according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 4.8% for an annualized rate of 9.6%. Interest will be payable monthly.

The payout at maturity will be par unless General Electric 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 General Electric shares equal to $1,000 divided by the initial share price.

The notes will price Nov. 20 and settle Nov. 30.

Barclays Capital Inc. will be the agent.

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