Barclays to price 12% reverse convertibles linked to Bucyrus

By Jennifer Chiou

New York, Feb. 12 - Barclays Bank plc plans to price 12% reverse convertible notes due March 5, 2008 linked to Bucyrus International, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

The pricing date is March 2 with settlement on March 7.

The payout at maturity will be par in cash if Bucyrus stock stays at or above the protection price - 75% of the initial share price - between March 2, 2007 and Feb. 29, 2008 and finishes at or above the initial share price. Otherwise, the payout will be in Bucyrus stock, with the number of shares equal to $1,000 divided by the initial share price.

Barclays Capital will be the agent.

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