Barclays to price 15% Buffered Reverse Convertibles linked to Arch Coal

By Angela McDaniels

Tacoma, Wash., Jan. 20 - Barclays Bank plc plans to price Buffered Reverse Convertible Notes due July 30, 2009 linked to the common stock of Arch Coal, Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 7.5% for an annualized coupon of 15%. Interest will be payable monthly.

The payout at maturity will be par unless the final share price is less than 80% of the initial price, in which case the payout will be $200 in cash plus a number of Arch Coal shares equal to $1,000 divided by the initial share price. At its option, Barclays can pay an equivalent amount of cash instead of the shares.

The notes are expected to price Jan. 27 and settle Jan. 30.

Barclays Capital Inc. is the agent.

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