New Issue: Barclays prices $250,000 12.6% reverse convertibles linked to Superior Energy

New York, June 29 - Barclays Bank plc priced $250,000 of 12.6% reverse convertible notes due Dec. 30, 2010 linked to Superior Energy Services, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Superior Energy shares fall below the protection price of $14.49, 75% of the initial price of $19.32, during the life of the notes and finish below the initial price in which case the payout will be 51.759834 shares of Superior Energy stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Superior Energy Services, Inc. (Symbol: SPN)
Amount:	$250,000
Maturity:	Dec. 30, 2010
Coupon:	12.6%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Superior Energy shares fall below the protection price of $14.49, 75% of the initial price, and finish below the initial price, in which case 51.759834 shares of Superior Energy stock
Initial price:	$19.32
Protection price:	$14.49, 75% of $19.32
Exchange ratio:	51.759834
Pricing date:	June 25
Settlement date:	June 30
Agent:	Barclays Capital
Fees:	1.3%
Cusip:	06740LU52

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