Barclays to price 15% reverse convertibles linked to bebe stores

By Jennifer Chiou

New York, April 4 - Barclays Bank plc plans to price 15% reverse convertible notes due Oct. 26, 2007 linked to the common stock of bebe stores, inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless bebe stores stock declines by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of bebe stores shares equal to $1,000 divided by the initial share price.

The notes are expected to price on April 20 and settle on April 27.

Barclays Capital will be the agent.

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