Barclays plans 12% single observation reverse convertibles on GameStop

By Jennifer Chiou

New York, May 31 - Barclays Bank plc plans to price 12% single observation reverse convertible notes due June 19, 2012 linked to the common stock of GameStop Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

If the final share price is at least 84% to 89% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be a number of GameStop shares equal to $1,000 divided by the initial share price or, at Barclays' option, a cash amount equal to the value of those shares. The exact protection level will be set at pricing.

The notes (Cusip: 06741JHU6) will price on June 15 and settle on June 20.

Barclays Capital Inc. is the agent.

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