New Issue: Barclays prices $100,000 14.25% reverse convertibles linked to Seagate

New York, March 29 - Barclays Bank plc priced $100,000 of 14.25% reverse convertible notes due Sept. 28, 2012 linked to Seagate Technology shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Seagate shares fall below the protection price of $21.88, 80% of the initial price of $27.35, during the life of the notes and finish below the initial price in which case the payout will be 36.563071 shares of Seagate stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Seagate Technology (Symbol: STX)
Amount:	$100,000
Maturity:	Sept. 28, 2012
Coupon:	14.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Seagate shares fall below the protection price of $21.88, 80% of the initial price, and finish below the initial price, in which case 36.563071 shares of Seagate stock
Initial price:	$27.35
Protection price:	$21.88, 80% of $27.35
Exchange ratio:	36.563071
Pricing date:	March 27
Settlement date:	March 30
Agent:	Barclays Capital
Fees:	2%
Cusip:	06741JSK6

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