Barclays plans to price 11%-16% reverse convertibles linked to Ford

By Angela McDaniels

Tacoma, Wash., March 14 - Barclays Bank plc plans to price reverse convertible notes due Sept. 20, 2011 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will carry an annualized coupon of 11% to 16%. The exact coupon will be set at pricing. Interest will be payable monthly.

The payout at maturity will be par in cash unless Ford shares fall below 75% 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 Ford shares equal to $1,000 divided by the initial price.

The notes are expected to price on March 15 and settle on March 18.

Barclays Capital Inc. is the agent.

The Cusip number is 06741JEF2.

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