Barclays to price 14.5% buffered reverse convertibles linked to JPMorgan

By Angela McDaniels

Tacoma, Wash., Dec. 8 - Barclays Bank plc plans to price 14.5% annualized buffered reverse convertible notes due March 26, 2009 linked to the common stock of JPMorgan Chase & Co., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless the final share price is less than 80% of the initial price, in which case the payout will be $200 in cash plus a number of JPMorgan shares equal to $1,000 divided by the initial share price. At its option, Barclays can pay an equivalent amount of cash in lieu of the shares.

The notes are expected to price Dec. 23 and settle Dec. 31

Barclays Capital Inc. is the agent.

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