New Issue: Barclays sells $1 million 10.7% reverse convertibles linked to Countrywide Financial

By Jennifer Chiou

New York, Nov. 16 - Barclays Bank plc priced $1 million of 10.7% reverse convertible notes due May 18, 2007 linked to Countrywide Financial Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Issuer:	Barclays Bank plc
Issue:	Exchangeable medium-term series A notes
Underlying stock:	Countrywide Financial Corp.
Amount:	$1 million
Maturity:	May 18, 2007
Coupon:	10.7%, payable monthly
Price:	Par
Payout at maturity:	Par unless Countrywide Financial stock finishes below the initial price of $40.79 and it falls below the protection price of $30.5925 between Nov. 15, 2006 and May 15, 2007, in which case $1,000/$40.79 shares per $1,000 principal amount
Protection price:	$30.5925, 75% of initial price
Initial price:	$40.79
Pricing date:	Nov. 15
Settlement date:	Nov. 20
Underwriter:	Barclays Capital
Fees:	1%

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