Barclays to price 10.25% reverse convertibles linked to iShares Russell 2000

By Jennifer Chiou

New York, April 8 - Barclays Bank plc plans to price 10.25% reverse convertible notes due Oct. 29, 2008 linked to the iShares Russell 2000 index fund, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If iShares Russell 2000 shares fall below the knock-in price - 85% of the initial price - during the life of the notes and finish below the initial price, the payout at maturity will be a number of iShares Russell 2000 shares equal to par divided by the initial price.

Otherwise, the payout will be par.

The notes are expected to price on April 25 and settle on April 30.

Barclays Capital Inc. is the underwriter.

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