New Issue: Barclays prices $10 million more 9.25% reverse convertibles on BofA

By Jennifer Chiou

New York, March 24 - Barclays Bank plc priced an additional $10 million of 9.25% reverse convertible notes due Feb. 28, 2012 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $17 million, up from the original $2 million.

The payout at maturity will be par in cash unless Bank of America 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 Bank of America 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:	Bank of America Corp. (Symbol: BAC)
Amount:	$17 million, up from original $2 million
Maturity:	Feb. 28, 2012
Coupon:	9.25%, payable monthly
Price:	Variable
Payout at maturity:	Par in cash unless Bank of America shares fall below the protection price of $11.34, 80% of the initial price, and finish below the initial price, in which case 70.57163 shares of Bank of America stock
Initial price:	$14.17
Protection price:	$11.34, 80% of initial price
Pricing dates:	Feb. 23 for original issue; March 23 for latest add-on
Settlement dates:	Feb. 28 for $2 million; March 14 for $5 million; March 28 for $10 million
Agent:	Barclays Capital Inc.
Fees:	2.1%
Cusip:	06741JCT4

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