New Issue: Barclays prices $3 million 11.15% reverse convertibles linked to Exxon Mobil

New York, Aug. 7 - Barclays Bank plc priced $3 million of 11.15% reverse convertible notes due Aug. 8, 2008 linked to Exxon Mobil Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Exxon Mobil stock falls below the protection price of $61.56, 75% of the initial price of $81.40, during the life of the notes and finishes below the initial price in which case the payout will be 12.183236 shares of Exxon Mobil stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Exxon Mobil Corp. (Symbol: XOM)
Amount:	$3 million
Maturity:	Aug. 8, 2008
Coupon:	11.15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Exxon Mobil stock falls below the protection price of $61.56, 75% of the initial price, and finishes below the initial price, in which case 12.183236 shares of Exxon Mobil stock.
Initial price:	$81.40
Protection price:	$61.56, 75% of $81.40
Exchange ratio:	12.183236
Pricing date:	Aug. 6
Settlement date:	Aug. 9
Agent:	Barclays Capital
Agent fee:	2.5%

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