Barclays to price 20% reverse convertibles linked to Hansen Natural

By E. Janene Geiss

Philadelphia, Jan. 9 - Barclays Bank plc plans to price reverse convertible notes due April 30, 2008 linked to the common stock of Hansen Natural Corp., according to an FWP filing with the Securities and Exchange Commission.

The three-month notes will pay 5% for an annualized rate of 20%. Interest will be payable monthly.

The payout at maturity will be par unless Hansen Natural stock falls by more than 30% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Hansen Natural shares equal to $1,000 divided by the initial share price or, at Barclays' option, the equivalent cash value.

The notes will price on Jan. 28 and settle on Jan. 31.

Barclays Capital Inc. will be the agent.

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