New Issue: Barclays prices $2 million 11.75% reverse convertibles linked to Alpha Natural

New York, Jan. 29 - Barclays Bank plc priced $2 million of 11.75% reverse convertible notes due July 29, 2010 linked to Alpha Natural Resources, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Alpha Natural shares fall below the protection price of $33.96, 75% of the initial price of $45.28, during the life of the notes and finish below the initial price in which case the payout will be 22.084806 shares of Alpha Natural stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Alpha Natural Resources, Inc. (Symbol: ANR)
Amount:	$2 million
Maturity:	July 29, 2010
Coupon:	11.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Alpha Natural shares fall below the protection price of $33.96, 75% of the initial price, and finish below the initial price, in which case 22.084806 shares of Alpha Natural stock
Initial price:	$45.28
Protection price:	$33.96, 75% of $45.28
Exchange ratio:	22.084806
Pricing date:	Jan. 26
Settlement date:	Jan. 29
Agent:	Barclays Capital
Fees:	1.625%
Cusip:	06740JKG4

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