New Issue: Barclays prices $3 million 20% reverse convertibles linked to Petrohawk Energy

New York, Aug. 28 - Barclays Bank plc priced $3 million of 20% reverse convertible notes due Nov. 28, 2008 linked to Petrohawk Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Petrohawk Energy shares fall below the protection price of $21.28, 60% of the initial price of $35.47, during the life of the notes and finish below the initial price in which case the payout will be 28.192839 shares of Petrohawk Energy stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Petrohawk Energy Corp. (Symbol: HK)
Amount:	$3 million
Maturity:	Nov. 28, 2008
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Petrohawk Energy shares fall below the protection price of $21.28, 60% of the initial price, and finish below the initial price, in which case 28.192839 shares of Petrohawk Energy stock
Initial price:	$35.47
Protection price:	$21.28, 60% of $35.47
Exchange ratio:	28.192839
Pricing date:	Aug. 26
Settlement date:	Aug. 29
Agent:	Barclays Capital
Fees:	1.375%

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