New Issue: Barclays prices $2.6 million principal-protected notes linked to General Motors

By Laura Lutz

Des Moines, April 23 - Barclays Bank plc priced $2.6 million of zero-coupon 100% principal-protected notes due March 2, 2009 linked to General Motors Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

If the closing price of General Motors stock stays within 25% of its initial price during the life of the notes, the payout will be 120% of par.

Otherwise, the payout will be par.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	100% principal-protected notes
Underlying stock:	General Motors Corp. (Symbol: GM)
Amount:	$2.6 million
Maturity:	March 2, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	120% of par if General Motors stock stays within 25% of initial price during life of notes; otherwise, par
Initial price:	$20.51
Lower barrier:	$15.38, 75% of initial price
Upper barrier:	$25.64, 125% of initial price
Pricing date:	April 22
Settlement date:	April 25
Agent:	Barclays Capital Inc.
Fees:	1.75%

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