Barclays to price 19% reverse convertibles linked to Delta Petroleum

By Laura Lutz

Des Moines, July 2 - Barclays Bank plc plans to price an issue of 19% reverse convertible notes due Jan. 24, 2008 linked to Delta Petroleum Corp. 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 Delta 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 Delta shares equal to $1,000 divided by the initial share price.

The notes will price on July 20 and settle on July 25.

Barclays Capital will be the agent.

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