Barclays plans 12.75% buffered reverse convertibles linked to Vornado

By E. Janene Geiss

Philadelphia, April 17 - Barclays Bank plc plans to price 12.75% annualized buffered reverse convertible notes due Oct. 30, 2009 linked to Vornado Realty Trust shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par unless the stock ends below 80% of the initial price, in which case investors will receive a number of Vornado Realty Trust shares equal to $1,000 divided by the initial share price plus par and the 20% buffer or, at Barclays' option, the equivalent value in cash.

The notes are expected to price on April 27 and settle on April 30.

Barclays Capital is the agent.

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