Barclays to price 15% six-month reverse convertibles linked to Ford

By E. Janene Geiss

Philadelphia, April 23 - Barclays Bank plc plans to price an issue of 7.5% (15% annual equivalent) reverse convertible notes due Nov. 7, 2007 linked to Ford Motor Co. common stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Ford 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 Ford shares equal to $1,000 divided by the initial share price.

The notes will price May 4 and settle May 9.

Barclays Capital will be the agent.

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