New Issue: Barclays prices $279,000 10.6% reverse convertibles linked to EOG

By Toni Weeks

San Luis Obispo, Calif., Dec. 29 – Barclays Bank plc price $279,000 of 10.6% reverse convertible notes due June 26, 2015 linked to EOG Resources, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

A knock-in event occurs if the stock closes below the knock-in barrier price, 75% of the initial price, on any day during the life of the notes.

The payout at maturity will be par unless the final share price is less than the initial price and a knock-in event has occurred, in which case the payout will be par plus the stock return or, at the issuer’s option, a number of EOG shares equal to $1,000 divided by the initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	EOG Resources, Inc. (Symbol: EOG)
Amount:	$279,000
Maturity:	June 26, 2015
Coupon:	10.6%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless EOG Resources shares fall below initial price and knock-in event has occurred, in which case par plus stock return or, at issuer’s option, 10.37237 EOG shares per $1,000 principal amount
Knock-in event:	Occurs if the stock closes below the knock-in barrier price on any day during the life of the notes
Initial price:	$96.41
Knock-in barrier price:	$72.31, 75% of initial price
Pricing date:	Dec. 23
Settlement date:	Dec. 29
Agent:	Barclays
Fees:	None
Cusip:	06741JY60

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