New Issue: Barclays prices $1 million 9.25% reverse convertibles linked to Bank of America

New York, July 28 - Barclays Bank plc priced $1 million of 9.25% reverse convertible notes due July 27, 2012 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Bank of America shares fall below the protection price, 80% of the initial price of $10.00, during the life of the notes and finish below the initial price in which case the payout will be Bank of America shares equal to $1,000 principal amount divided by the initial price.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$1 million
Maturity:	July 27, 2012
Coupon:	9.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Bank of America shares fall below the protection price, 80% of the initial price, and finish below the initial price, in which case Bank of America shares equal to $1,000 principal amount divided by the initial price
Initial price:	$10.00
Protection price:	$, 80% of $10.00
Pricing date:	July 26
Settlement date:	July 29
Agent:	Barclays Capital
Fees:	0.6%
Cusip:	06741JJT7

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