New Issue: Barclays prices $13.27 million 10.6% RevCons linked to GE via Morgan Stanley

By Angela McDaniels

Tacoma, Wash., Nov. 10 - Barclays Bank plc priced $13.27 million of reverse convertible securities due May 12, 2010 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.

Morgan Stanley Smith Barney LLC and Barclays Capital Inc. are the agents.

The six-month notes pay 5.3% for an annualized coupon of 10.6%. Interest is payable monthly.

The payout at maturity will be par unless GE stock falls by 25% or more during the life of the notes and finishes below the initial share price, in which case the payout will be a number of GE shares equal to $1,000 divided by the initial share price.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible securities
Underlying stock:	General Electric Co. (Symbol: GE)
Amount:	$13,274,000
Maturity:	May 12, 2010
Coupon:	10.6%, payable monthly
Price:	Par
Payout at maturity:	If GE stock falls to or below trigger level during life of notes and final share price is less than initial share price, 65.23157 GE shares; otherwise, par
Initial share price:	$15.33
Trigger level:	$11.4975, 75% of initial price
Pricing date:	Nov. 6
Settlement date:	Nov. 12
Agents:	Morgan Stanley Smith Barney LLC and Barclays Capital Inc.
Fees:	2%

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