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Barclays to price 12% reverse convertibles linked to Delta Airlines
New York, Feb. 8 - Barclays Bank plc plans to price 12% reverse convertible notes due Aug. 26, 2010 linked to Delta Airlines, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Delta Airlines shares fall below 70% 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 Delta Airlines shares equal to $1,000 divided by the initial price.
The notes are expected to price on Feb. 23 and settle on Feb. 26.
Barclays Capital is the agent.
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