Barclays to price 11.25% reverse convertibles linked to Bank of America

By E. Janene Geiss

Philadelphia, June 10 - Barclays Bank plc plans to price 11.25% reverse convertible notes due June 27, 2009 linked to the common stock of Bank of America 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 Bank of America stock declines by more than 25% 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 Bank of America shares equal to $1,000 divided by the initial share price or, at Barclays' option, the equivalent cash value.

The notes will price June 25 and settle June 30.

Barclays Capital Inc. will be the agent.

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