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Barclays to price 10% reverse convertibles linked to Facebook
New York, Sept. 17 - Barclays Bank plc plans to price 10% reverse convertible notes due Sept. 29, 2014 linked to Facebook Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Facebook shares fall below 71% 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 Facebook shares equal to $1,000 divided by the initial price.
The notes are expected to price on Sept. 25 and settle on Sept. 30.
Barclays Capital is the agent.
The Cusip number is 06741J4E6.
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