New Issue: Barclays prices $2 million 20% reverse convertibles linked to ATP Oil

New York, Oct. 29 - Barclays Bank plc priced $2 million of 20% reverse convertible notes due April 30, 2010 linked to ATP Oil & Gas Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless ATP Oil shares fall below the protection price of $11.33, 60% of the initial price of $18.88, during the life of the notes and finish below the initial price in which case the payout will be 52.966102 shares of ATP Oil stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	ATP Oil & Gas Corp. (Symbol: ATPG)
Amount:	$2 million
Maturity:	April 30, 2010
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless ATP Oil shares fall below the protection price of $11.33, 60% of the initial price, and finish below the initial price, in which case 52.966102 shares of ATP Oil stock
Initial price:	$18.88
Protection price:	$11.33, 60% of $18.88
Exchange ratio:	52.966102
Pricing date:	Oct. 27
Settlement date:	Oct. 30
Agent:	Barclays Capital
Fees:	1.625%

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