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Published on 1/27/2012 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $620,000 7.5% reverse convertibles on iShares Russell

By Marisa Wong

Madison, Wis., Jan. 27 - Barclays Bank plc priced $620,000 of 7.5% reverse convertible notes due Jan. 29, 2013 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless the fund share price falls below the protection price of $54.30, 68.5% of the initial price of $79.27, during the life of the notes and the final fund share price is less than the initial price, in which case the payout will be a number of index fund shares equal to $1,000 principal amount divided by the initial price.

Barclays Capital Inc. is the agent.

Issuer:Barclays Bank plc
Issue:Reverse convertible notes
Underlying ETF:iShares Russell 2000 index fund
Amount:$620,000
Maturity:Jan. 29, 2013
Coupon:7.5%, payable monthly
Price:Par
Payout at maturity:Par in cash unless fund share price falls below protection price during life of notes and finishes below initial price, in which case a number of fund shares equal to $1,000 divided by initial price
Initial price:$79.27
Protection price:$54.30, 68.5% of initial price
Exchange ratio:12.615113 shares
Pricing date:Jan. 25
Settlement date:Jan. 30
Agent:Barclays Capital Inc.
Fees:1%
Cusip:06741JRK7

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