New Issue: Barclays prices $5 million additional 9.25% reverse convertibles linked to Bank of America

By Angela McDaniels

Tacoma, Wash., Nov. 24 - Barclays Bank plc priced $5 million of additional 9.25% annualized reverse convertible notes due April 29, 2011 linked to the common stock of Bank of America Corp., according to a 424B3 filing with the Securities and Exchange Commission.

This brings the issue size to $6 million. The original $1 million of notes priced Oct. 26.

The payout at maturity will be par in cash unless Bank of America shares fall below the protection price of $9.04, 80% of the initial price of $11.30, during the life of the notes and finish below the initial price in which case the payout will be 88.495575 shares of Bank of America stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$6 million, increased from $1 million
Maturity:	April 29, 2011
Coupon:	9.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Bank of America shares fall below the protection price of $9.04, 80% of the initial price, and finish below the initial price, in which case 88.495575 shares of Bank of America stock
Initial price:	$11.30
Protection price:	$9.04, 80% of $11.30
Pricing dates:	Oct. 26 for $1 million; Nov. 24 for $5 million
Settlement dates:	Oct. 29 for original issue; Nov. 26 for add-on
Agent:	Barclays Capital
Fees:	0.3%
Cusip:	06740PUM6

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