Barclays to price 9.25% reverse convertible notes linked to K-Swiss

By E. Janene Geiss

Philadelphia, June 11 - Barclays Bank plc plans to price an offering of reverse convertible notes due Dec. 27, 2007 linked to the common stock of K-Swiss Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 4.625% for an annualized rate of 9.25%. Interest will be payable monthly.

The payout at maturity will be par unless K-Swiss stock falls by more than 15% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of K·Swiss shares equal to $1,000 divided by the initial share price.

The notes will price June 26 and settle June 29.

Barclays Capital will be the agent.

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