New Issue: Barclays prices $972,000 20% reverse convertibles linked to Sprint Nextel

New York, Aug. 12 - Barclays Bank plc priced $972,000 of 20% reverse convertible notes due Nov. 16, 2010 linked to Sprint Nextel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Sprint Nextel shares fall below the protection price of $3.59, 80% of the initial price of $4.49, during the life of the notes and finish below the initial price in which case the payout will be 222.717149 shares of Sprint Nextel stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Sprint Nextel Corp. (Symbol: S)
Amount:	$972,000
Maturity:	Nov. 16, 2010
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Sprint Nextel shares fall below the protection price of $3.59, 80% of the initial price, and finish below the initial price, in which case 222.717149 shares of Sprint Nextel stock
Initial price:	$4.49
Protection price:	$3.59, 80% of $4.49
Exchange ratio:	222.717149
Pricing date:	Aug. 11
Settlement date:	Aug. 16
Agent:	Barclays Capital
Fees:	2%
Cusip:	06740PMC7

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