Barclays to price 9.25% reverse convertibles linked to ConocoPhillips

By Susanna Moon

Chicago, March 28 - Barclays Bank plc plans to price 9.25% reverse convertible notes due April 8, 2009 linked to the common stock of ConocoPhillips, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If ConocoPhillips stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial share price, the payout at maturity will be a number of ConocoPhillips shares equal to par divided by the initial share price.

Otherwise, the payout will be par.

The notes are expected to price on April 4 and settle on April 9.

Barclays Capital Inc. is the underwriter.

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