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Barclays to price 8.5% reverse convertibles linked to Deere
New York, March 9 - Barclays Bank plc plans to price 8.5% reverse convertible notes due March 30, 2011 linked to Deere & Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Deere 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 Deere shares equal to $1,000 divided by the initial price.
The notes are expected to price on March 26 and settle on March 31.
Barclays Capital is the agent.
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