New Issue: Barclays prices $2 million 8.15% reverse convertibles linked to Wal-Mart

New York, April 20 - Barclays Bank plc priced $2 million of 8.15% reverse convertible notes due Oct. 24, 2007 linked to Wal-Mart Stores, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if Wal-Mart stock stays at or above the protection price, 85% of the initial price of $48.34, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be 20.686802 shares of Wal-Mart stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Wal-Mart Stores, Inc.
Amount:	$2 million
Maturity:	Oct. 24, 2007
Coupon:	8.15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Wal-Mart stock stays at or above the protection price of $41.09 and finishes at or above the initial price; otherwise 20.686802 shares of Wal-Mart stock
Initial price:	$48.34
Protection price:	$41.09, 85% of $48.34
Exchange ratio:	20.686802
Pricing date:	April 19, 2007
Settlement date:	April 24, 2007
Agent:	Barclays Capital
Agent fee:	1.00%

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