Barclays to price 12% reverse convertibles linked to Monsanto

New York, June 26 - Barclays Bank plc plans to price 12% reverse convertible notes due Jan. 8, 2009 linked to Monsanto Co. shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Monsanto shares fall below 70% of the initial price during the life of the notes and finishes below the initial price, in which case the payout will be a number of Monsanto shares equal to $1,000 divided by the initial price.

The notes are expected to price on July 3 and settle on July 9.

Barclays Capital is the agent.

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