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Barclays to price 10.5% reverse convertibles linked to Akamai Technologies
New York, Feb. 4 - Barclays Bank plc plans to price 10.5% reverse convertible notes due Aug. 26, 2011 linked to Akamai Technologies, Inc shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Akamai Technologies 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 Akamai Technologies shares equal to $1,000 divided by the initial price.
The notes are expected to price on Feb. 23 and settle on Feb. 28.
Barclays Capital is the agent.
The Cusip number is 06741JDE6.
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