New Issue: Barclays prices $1.5 million 20.75% reverse convertibles linked to Jetblue

New York, April 25 - Barclays Bank plc priced $1.5 million of 20.75% reverse convertible notes due July 27, 2007 linked to Jetblue Airways Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if Jetblue Airways stock stays at or above the protection price, 80% of the initial price of $10.71, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be 93.370682 shares of Jetblue Airways stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Jetblue Airways Corp.
Amount:	$1.5 million
Maturity:	July 27, 2007
Coupon:	20.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Jetblue Airways stock stays at or above the protection price of $8.57 and finishes at or above the initial price; otherwise 93.370682 shares of Jetblue Airways stock
Initial price:	$10.71
Protection price:	$8.57, 80% of $10.71
Exchange ratio:	93.370682
Pricing date:	April 24
Settlement date:	April 27
Agent:	Barclays Capital
Agent fee:	1.25%

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