New Issue: Barclays prices $10 million additional 8% reverse convertibles linked to Prudential Financial

By Angela McDaniels

Tacoma, Wash., May 20 - Barclays Bank plc priced an additional $10 million of 8% reverse convertible notes due March 30, 2011 linked to Prudential Financial, Inc. shares, according to a 424B3 filing with the Securities and Exchange Commission.

The notes bring the issue size to $12 million. Barclays priced the original $2 million of notes on March 26.

The payout at maturity will be par in cash unless Prudential Financial shares fall below the protection price - 80% of the initial price - during the life of the notes and finish below the initial price, in which case the payout will be a number of Prudential Financial shares equal to $1,000 divided by the initial share price.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Prudential Financial, Inc. (Symbol: PRU)
Amount:	$12 million, increased from $2 million
Maturity:	March 30, 2011
Coupon:	8%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Prudential Financial shares fall below protection price during life of notes and finish below initial price, in which case 16.889039 Prudential Financial shares
Initial price:	$59.21
Protection price:	$47.37, 80% of initial price
Exchange ratio:	16.889039
Pricing dates:	March 26 for $2 million; May 20 for $10 million
Settlement dates:	March 31 for $2 million; May 21 for $10 million
Agent:	Barclays Capital Inc.
Fees:	2.5%
Cusip:	06740JYY0

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