New Issue: Barclays prices $1.5 million 20% reverse convertibles linked to Emcor Group

New York, May 7 - Barclays Bank plc priced $1.5 million of 20% reverse convertible notes due Jan. 11, 2010 linked to Emcor Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Emcor Group shares fall below the protection price of $15.44, 70% of the initial price of $22.06, during the life of the notes and finish below the initial price in which case the payout will be 45.330916 shares of Emcor Group stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Emcor Group, Inc. (Symbol: EME)
Amount:	$1.5 million
Maturity:	Jan. 11, 2010
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Emcor Group shares fall below the protection price of $15.44, 70% of the initial price, and finish below the initial price, in which case 45.330916 shares of Emcor Group stock
Initial price:	$22.06
Protection price:	$15.44, 70% of $22.06
Exchange ratio:	45.330916
Pricing date:	May 6
Settlement date:	May 8
Agent:	Barclays Capital
Fees:	3.5%

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