New Issue: Barclays prices $3 million 20% reverse convertibles linked to Sprint Nextel

New York, June 13 - Barclays Bank plc priced $3 million of 20% reverse convertible notes due Dec. 17, 2008 linked to Sprint Nextel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Sprint Nextel shares fall below the protection price of $4.85, 60% of the initial price of $8.08, during the life of the notes and finishes below the initial price in which case the payout will be 123.762376 shares of Sprint Nextel stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Sprint Nextel Corp. (Symbol: S)
Amount:	$3 million
Maturity:	Dec. 17, 2008
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Sprint Nextel stock falls below the protection price of $4.85, 60% of the initial price, and finishes below the initial price, in which case 123.762376 shares of Sprint Nextel stock
Initial price:	$8.08
Protection price:	$4.85, 60% of $8.08
Exchange ratio:	123.762376
Pricing date:	June 12
Settlement date:	June 17
Agent:	Barclays Capital
Fees:	0.75%

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