Barclays plans 12% autocallable reverse convertibles linked to USG

By Jennifer Chiou

New York, Sept. 25 - Barclays Bank plc plans to price 12% autocallable reverse convertible notes due Oct. 16, 2014 linked to USG Corp. shares, according to an FWP with the Securities and Exchange Commission.

Interest will be payable quarterly.

The notes will be called at par if the stock closes at or above the initial share price on any of three quarterly call valuation dates beginning on Jan. 9, 2014.

The payout at maturity will be par in cash unless Peabody shares fall below the 65% protection level during the life of the notes and finish below the protection price, in which case the payout will be a number of Peabody shares equal to $1,000 principal amount divided by the initial price.

The notes (Cusip: 06741TP35) will price on Sept. 27 and settle on Oct. 2.

Barclays is the underwriter with JPMorgan Securities LLC as placement agent.

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