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Published on 6/18/2007 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $2 million 11.5% reverse convertibles linked to St. Jude

New York, June 18 - Barclays Bank plc priced $2 million of 11.5% reverse convertible notes due Dec. 19, 2007 linked to St. Jude Medical, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless St. Jude stock falls below the protection price of $36.32, 85% of the initial price of $42.73, during the life of the notes and finishes below the initial price in which case the payout will be 23.402762 shares of St. Jude stock.

Barclays Capital is the agent.

Issuer:Barclays Bank plc
Issue:Reverse convertible notes
Underlying stock:St. Jude Medical, Inc.
Amount:$2 million
Maturity:Dec. 19, 2007
Coupon:11.5%, payable monthly
Price:Par
Payout at maturity:Par in cash if St. Jude stock stays at or above the protection price of $36.32 and finishes at or above the initial price; otherwise 23.402762 shares of St. Jude stock
Initial price:$42.73
Protection price:$36.32, 85% of $42.73
Exchange ratio:23.402762
Pricing date:June 14
Settlement date:June 19
Agent:Barclays Capital
Agent fee:2.75%

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