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Barclays to price 19% reverse convertibles linked to InterOil
New York, July 8 - Barclays Bank plc plans to price 19% reverse convertible notes due Oct. 28, 2010 linked to InterOil Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless InterOil shares fall below 70% 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 InterOil shares equal to $1,000 divided by the initial price.
The notes are expected to price on July 23 and settle on July 28.
Barclays Capital is the agent.
The Cusip number is 06740PEK8.
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