New Issue: Barclays prices $4 million 11% reverse convertibles linked to Campbell Soup

New York, Dec. 1 - Barclays Bank plc priced $4 million of 11% reverse convertible notes due May 29, 2009 linked to Campbell Soup Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Campbell Soup shares fall below the protection price of $22.32, 70% of the initial price of $31.88, during the life of the notes and finish below the initial price in which case the payout will be 31.367629 shares of Campbell Soup stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Campbell Soup Co. (Symbol: CPB)
Amount:	$4 million
Maturity:	May 29, 2009
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Campbell Soup shares fall below the protection price of $22.32, 70% of the initial price, and finish below the initial price, in which case 31.367629 shares of Campbell Soup stock
Initial price:	$31.88
Protection price:	$22.32, 70% of $31.88
Exchange ratio:	31.367629
Pricing date:	Nov. 26
Settlement date:	Dec. 2
Agent:	Barclays Capital
Fees:	1.5%

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