Calyon to price 14.5% sweet reverse convertibles linked to Consol Energy via JVB

By Jennifer Chiou

New York, Oct. 11 - Calyon Securities (USA) Inc. plans to price an issue of 14.5% sweet reverse convertible notes due April 26, 2007 linked to Consol Energy Inc. shares via JVB Financial Group, LLC, according to a term sheet.

Interest will be payable monthly.

The notes will price on Oct. 20 and settle on Oct. 26.

At maturity, investors will receive par unless Consol Energy stock falls below the knock-in price - 75% 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 Consol Energy shares equal to $1,000 divided by the initial share price.

Calyon will be the agent.

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