Barclays plans six-month 14.1% reverse convertibles on stock basket

By Susanna Moon

Chicago, Feb. 18 - Barclays Bank plc plans to price 14.1% reverse convertible notes due Aug. 26, 2011 based on a basket of five equally weighted stocks, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The underlying companies are US Airways Group, Inc., Silver Wheaton Corp., KB Home, Netflix, Inc. and Arch Coal, Inc.

The payout at maturity will be par in cash unless any of the stocks falls 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 shares equal to $1,000 divided by the initial price.

The notes (Cusip 06741JED7) are expected to price on Feb. 23 and settle on Feb. 28.

Barclays Capital is the agent.

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