Barclays plans issue of 12.75% reverse convertibles linked to eBay

By Jennifer Chiou

New York, Aug. 21 - Barclays Bank plc plans to price an issue of 12.75% reverse convertible notes due Feb. 26, 2007 linked to eBay Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

At maturity, investors will receive par unless eBay stock finishes below the initial price and falls below the protection price, 70% of the initial share price, between Aug. 23, 2006 and Feb. 23, 2007, in which case the payout will be a number of eBay shares equal to $1,000 divided by the initial share price.

Barclays Capital Inc. will be the agent.

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