New Issue: Barclays sells $1.5 million 10.6% reverse convertibles linked to Aetna

By Angela McDaniels

Seattle, Aug. 14 - Barclays Bank plc priced $1.5 million of 10.6% reverse convertible notes due Aug. 16, 2007 linked to Aetna Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if Aetna stock stays at or above the protection price of $28.328, 80% of the initial price, between Aug. 11, 2006 and Aug. 10, 2007 or finishes at or above the $35.41 initial price. Otherwise, the payout will be a number of shares of Aetna stock equal to $1,000 divided by the initial share price.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Aetna Inc.
Amount:	$1.5 million
Maturity:	Aug. 16, 2007
Coupon:	10.6%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Aetna stock stays at or above the protection price during the life of the notes or finishes at or above the initial price; otherwise 28.24061 shares of Aetna stock
Initial share price:	$35.41
Protection price:	$28.328, 80% of initial share price
Pricing date:	Aug. 11
Settlement date:	Aug. 16
Agent:	Barclays Capital

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