Barclays to price 14.65% reverse convertibles linked to First Horizon

By Jennifer Chiou

New York, Oct. 24 - Barclays Bank plc plans to price 14.65% reverse convertible notes due Oct. 31, 2008 linked to the common stock of First Horizon National Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless First Horizon stock falls below the knock-in price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of First Horizon shares equal to $1,000 divided by the initial share price.

The notes are expected to price on Oct. 30 and settle on Nov. 2.

Barclays Capital is the agent.

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