New Issue: Barclays prices $4 million 9.25% reverse convertibles linked to ConocoPhillips

New York, April 29 - Barclays Bank plc priced $4 million of 9.25% reverse convertible notes due April 29, 2009 linked to ConocoPhillips stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless ConocoPhillips stock falls below the protection price of $62.68, 75% of the initial price of $83.57, during the life of the notes and finishes below the initial price in which case the payout will be 11.966017 shares of ConocoPhillips stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	ConocoPhillips (Symbol: COP)
Amount:	$4 million
Maturity:	April 29, 2009
Coupon:	9.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless ConocoPhillips stock falls below the protection price of $62.68, 75% of the initial price, and finishes below the initial price, in which case 11.966017 shares of ConocoPhillips stock
Initial price:	$83.57
Protection price:	$62.68, 75% of $83.57
Exchange ratio:	11.966017
Pricing date:	April 25
Settlement date:	April 30
Agent:	Barclays Capital
Fees:	2.5%

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