Barclays to price 17.5% reverse convertibles linked to Ford

By Angela McDaniels

Seattle, Sept. 12 - Barclays Bank plc plans to price 17.5% reverse convertible notes due Sept. 26, 2008 linked to the common stock of Ford Motor Co., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless the stock falls below the protection level - 70% 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 on Sept. 25 and settle on Sept. 28.

Barclays Capital will be the agent.

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