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Barclays to price 16.5% reverse convertibles linked to Fuel Systems
New York, May 11 - Barclays Bank plc plans to price 16.5% reverse convertible notes due Nov. 30, 2010 linked to Fuel Systems Solutions, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Fuel Systems shares fall below 70% 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 Fuel Systems shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 25 and settle on May 28.
Barclays Capital is the agent.
The Cusip number is 06740LWQ4.
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