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Barclays to price 15.3% reverse convertibles linked to Deere
New York, Jan. 20 - Barclays Bank plc plans to price 15.3% reverse convertible notes due July 30, 2009 linked to Deere & Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Deere shares fall below 60% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Deere shares equal to $1,000 divided by the initial price.
The notes are expected to price on Jan. 27 and settle on Jan. 30.
Barclays Capital is the agent.
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