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Barclays to price 12% reverse convertibles linked to SunPower
New York, Feb. 3 - Barclays Bank plc plans to price 12% reverse convertible notes due May 31, 2011 linked to SunPower Corp. (Class A) shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless SunPower 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 SunPower shares equal to $1,000 divided by the initial price.
The notes are expected to price on Feb. 23 and settle on Feb. 28.
Barclays Capital is the agent.
The Cusip number is 06741JDC0.
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