Barclays to price 11% reverse convertibles linked to USG

By Angela McDaniels

Seattle, Nov. 27 - Barclays Bank plc plans to price an issue of 11% reverse convertible notes due Nov. 30, 2007 linked to the common stock of USG Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will price on Nov. 29 and settle on Nov. 30.

Interest will be payable monthly.

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

Barclays Capital will be the agent.

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