Barclays to price 15.5% reverse convertibles linked to Consol

By Laura Lutz

Des Moines, Nov. 1 - Barclays Bank plc plans to price an issue of 15.5% reverse convertible notes due May 31, 2007 linked to the common stock of Consol Energy Inc.

Interest will be paid at maturity.

At maturity, investors will receive par unless Consol stock falls below the knock-in 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 Consol shares equal to $1,000 divided by the initial share price.

The notes will price on Nov. 28 and settle on Nov. 30.

Barclays Capital will be the agent.

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