Barclays to price 9.25% reverse convertibles linked to Dow Chemical

By Angela McDaniels

Tacoma, Wash., April 8 - Barclays Bank plc plans to price 9.25% reverse convertible notes due April 29, 2009 linked to the common stock of Dow Chemical 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 Dow Chemical stock falls below the protection price - 80% of the initial share price - 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 Dow Chemical shares equal to $1,000 divided by the initial share price or, at Barclays' option, the equivalent amount in cash.

The notes will price on April 25 and settle on April 30.

Barclays Capital Inc. will be the agent.

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