New Issue: Barclays prices $2.5 million 11.75% reverse convertibles linked to Bank of America

New York, Nov. 29 - Barclays Bank plc priced $2.5 million of 11.75% reverse convertible notes due May 30, 2008 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Bank of America stock falls below the protection price of $34.35, 80% of the initial price of $42.94, during the life of the notes and finishes below the initial price in which case the payout will be 23.288309 shares of Bank of America stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$2.5 million
Maturity:	May 30, 2008
Coupon:	11.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Bank of America stock falls below the protection price of $34.35, 80% of the initial price, and finishes below the initial price, in which case 23.288309 shares of Bank of America stock.
Initial price:	$42.94
Protection price:	$34.35, 80% of $42.94
Exchange ratio:	23.288309
Pricing date:	Nov. 27
Settlement date:	Nov. 30
Agent:	Barclays Capital
Agent fee:	1.625%

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