Barclays to price 11% reverse convertibles linked to Lowe's

By E. Janene Geiss

Philadelphia, Nov. 20 - Barclays Bank plc plans to price 11% reverse convertible notes due Nov. 28, 2008 linked to Lowe's Cos., Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Lowe's stock falls below the knock-in price - 70% 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 Lowe's shares equal to $1,000 divided by the initial share price.

The notes will price on Nov. 28 and settle on Nov. 30.

Barclays Capital Inc. will be the agent.

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