Barclays to price 13% reverse convertibles linked to Research In Motion

By Angela McDaniels

Tacoma, Wash., June 12 - Barclays Bank plc plans to price 13% reverse convertible notes due June 29, 2009 linked to the common stock of Research In Motion Ltd., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Research In Motion stock falls by more than 40% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Research In Motion shares equal to $1,000 divided by the initial share price or, at Barclays' option, the equivalent amount in cash.

The notes are expected to price on June 25 and settle on June 30.

Barclays Capital Inc. will be the agent.

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