New Issue: Barclays prices $4.5 million 10.25% reverse convertibles linked to McDonald's

New York, Aug. 31 - Barclays Bank plc priced $4.5 million of 10.25% reverse convertible notes due Feb. 29, 2008 linked to McDonald's Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless McDonald's stock falls below the protection price of $38.91, 80% of the initial price of $48.64, during the life of the notes and finishes below the initial price in which case the payout will be 20.559211 shares of McDonald's stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	McDonald's Corp. (Symbol: MCD)
Amount:	$4.5 million
Maturity:	Feb. 29, 2008
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless McDonald's stock falls below the protection price of $38.91, 80% of the initial price, and finishes below the initial price, in which case 20.559211 shares of McDonald's stock.
Initial price:	$48.64
Protection price:	$38.91, 80% of $48.64
Exchange ratio:	20.559211
Pricing date:	Aug. 28
Settlement date:	Aug. 31
Agent:	Barclays Capital
Agent fee:	1.63%

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