Barclays to price 12% buffered reverse convertibles linked to JPMorgan

By Susanna Moon

Chicago, March 20 - Barclays Bank plc plans to price 12% annualized buffered reverse convertible notes due Sept. 30, 2009 linked to JPMorgan Chase & Co. shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par unless the stock falls below 65% of the initial price, in which case investors will receive a number of JPMorgan shares equal to $1,000 divided by the initial share price plus par and the buffer or, at Barclays' option, the equivalent value in cash.

The notes are expected to price on March 26 and settle on March 31.

Barclays Capital is the agent.

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