Barclays to price 16.2% reverse convertibles linked to Peabody Energy

By Jennifer Chiou

New York, June 5 - Barclays Bank plc plans to price 16.2% annualized reverse convertible notes due Dec. 30, 2008 linked to the common stock of Peabody Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Peabody Energy 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 Peabody Energy shares equal to $1,000 divided by the initial share price or, at Barclays' option, the equivalent cash value.

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

Barclays Capital Inc. is the agent.

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