Barclays to price 8% reverse convertibles linked to Cummins

New York, Oct. 1 - Barclays Bank plc plans to price 8% reverse convertible notes due April 30, 2013 linked to Cummins Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

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

The notes are expected to price on Oct. 26 and settle on Oct. 31.

Barclays Capital is the agent.

The Cusip number is 06741JSZ3.

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