Barclays to price 13.5% reverse convertibles linked to Allegheny Technologies

New York, March 22 - Barclays Bank plc plans to price 13.5% reverse convertible notes due June 26, 2012 linked to Allegheny Technologies Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Allegheny Technologies shares fall below 80% 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 Allegheny Technologies shares equal to $1,000 divided by the initial price.

The notes are expected to price on March 21 and settle on March 26.

Barclays Capital is the agent.

The Cusip number is 06741JSS9.

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