New Issue: Barclays prices $2 million 9.25% reverse convertibles linked to Southern Copper

New York, Jan. 29 - Barclays Bank plc priced $2 million of 9.25% reverse convertible notes due Jan. 28, 2011 linked to Southern Copper Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Southern Copper shares fall below the protection price of $23.34, 80% of the initial price of $29.17, during the life of the notes and finish below the initial price in which case the payout will be 34.281796 shares of Southern Copper stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Southern Copper Corp. (Symbol: PCU)
Amount:	$2 million
Maturity:	Jan. 28, 2011
Coupon:	9.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Southern Copper shares fall below the protection price of $23.34, 80% of the initial price, and finish below the initial price, in which case 34.281796 shares of Southern Copper stock
Initial price:	$29.17
Protection price:	$23.34, 80% of $29.17
Exchange ratio:	34.281796
Pricing date:	Jan. 26
Settlement date:	Jan. 29
Agent:	Barclays Capital
Fees:	2.125%
Cusip:	06740JPT1

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