New Issue: Barclays sells $2 million 9.25% reverse convertibles linked to Goldman Sachs

By Laura Lutz

Washington, Jan. 29 - Barclays Bank plc priced $2 million of 9.25% reverse convertible notes due Jan. 30, 2008 linked to The Goldman Sachs Group, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if Goldman Sachs stock stays at or above the protection price, 85% of the initial price of $213.50, between Jan. 26, 2007 and Jan. 25, 2008 and finishes at or above the initial price.

Otherwise, the payout will be in Goldman Sachs stock, with the number of shares equal to $1,000 divided by the initial share price.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	The Goldman Sachs Group, Inc.
Amount:	$2 million
Maturity:	Jan. 30, 2008
Coupon:	9.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Goldman Sachs stock stays at or above the protection price of $181.48 and finishes at or above the initial price; otherwise shares of Goldman Sachs stock equal to $1,000 divided by the initial price
Initial price:	$213.50
Protection price:	$181.48, 85% of $213.50
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Agent:	Barclays Capital
Agent fee:	2.75%

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