New Issue: Barclays prices $1.25 million 10.2% reverse convertibles linked to Weatherford International

New York, Aug. 31 - Barclays Bank plc priced $1.25 million of 10.2% reverse convertible notes due Feb. 29, 2008 linked to Weatherford International Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Weatherford International stock falls below the protection price of $40.76, 75% of the initial price of $54.34, during the life of the notes and finishes below the initial price in which case the payout will be 18.40265 shares of Weatherford International stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Weatherford International Ltd. (Symbol: WFT)
Amount:	$1.25 million
Maturity:	Feb. 29, 2008
Coupon:	10.2%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Weatherford International stock falls below the protection price of $40.76, 75% of the initial price, and finishes below the initial price, in which case 18.40265 shares of Weatherford International stock.
Initial price:	$54.34
Protection price:	$40.76, 75% of $54.34
Exchange ratio:	18.40265
Pricing date:	Aug. 28
Settlement date:	Aug. 31
Agent:	Barclays Capital
Agent fee:	2%

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