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Barclays to price 11% reverse convertibles linked to Fresh Del Monte
New York, July 30 - Barclays Bank plc plans to price 11% reverse convertible notes due Feb. 11, 2009 linked to Fresh Del Monte Produce Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Fresh Del Monte 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 Fresh Del Monte shares equal to $1,000 divided by the initial price.
The notes are expected to price on Aug. 8 and settle on Aug. 13.
Barclays Capital is the agent.
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