New Issue: Barclays prices $1.25 million 13% reverse convertibles linked to CSX

New York, April 29 - Barclays Bank plc priced $1.25 million of 13% reverse convertible notes due July 30, 2008 linked to CSX Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless CSX stock falls below the protection price of $49.55, 80% of the initial price of $61.94, during the life of the notes and finishes below the initial price in which case the payout will be 16.144656 shares of CSX stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	CSX Corp. (Symbol: CSX)
Amount:	$1.25 million
Maturity:	July 30, 2008
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless CSX stock falls below the protection price of $49.55, 80% of the initial price, and finishes below the initial price, in which case 16.144656 shares of CSX stock
Initial price:	$61.94
Protection price:	$49.55, 80% of $61.94
Exchange ratio:	16.144656
Pricing date:	April 25
Settlement date:	April 30
Agent:	Barclays Capital
Fees:	1.375%

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