Barclays plans issue of 10% reverse convertibles linked to Dell

By Jennifer Chiou

New York, Oct. 17 - Barclays Bank plc plans to price an issue of 10% reverse convertible notes due April 30, 2007 linked to Dell Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Dell stock falls below the protection price, 80% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Dell shares equal to $1,000 divided by the initial share price.

The notes will price on Oct. 27 and settle on Oct. 31.

Barclays Capital Inc. will be the agent.

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