New Issue: Barclays prices $1 million 13.75% reverse convertibles linked to LSI Logic

New York, June 5 - Barclays Bank plc priced $1 million of 13.75% reverse convertible notes due Sept. 6, 2007 linked to LSI Logic Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless LSI Logic stock falls below the protection price of $7.61, 85% of the initial price of $8.95, during the life of the notes and finishes below the initial price in which case the payout will be 111.731844 shares of LSI Logic stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	LSI Logic Corp.
Amount:	$1 million
Maturity:	Sept. 6, 2007
Coupon:	13.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if LSI Logic stock stays at or above the protection price of $7.61 and finishes at or above the initial price; otherwise 111.731844 shares of LSI Logic stock
Initial price:	$8.95
Protection price:	$7.61, 85% of 8.95
Exchange ratio:	111.731844
Pricing date:	June 1
Settlement date:	June 6
Agent:	Barclays Capital
Agent fee:	1.65%

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