New Issue: Barclays prices $1.5 million 19% reverse convertibles linked to Hecla Mining

New York, Dec. 16 - Barclays Bank plc priced $1.5 million of 19% reverse convertible notes due Sept. 19, 2011 linked to Hecla Mining Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Hecla Mining shares fall below the protection price of $7.17, 65% of the initial price of $11.03, during the life of the notes and finish below the initial price in which case the payout will be 90.661831 shares of Hecla Mining stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Hecla Mining Co. (Symbol: HL)
Amount:	$1.5 million
Maturity:	Sept. 19, 2011
Coupon:	19%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Hecla Mining shares fall below the protection price of $7.17, 65% of the initial price, and finish below the initial price, in which case 90.661831 shares of Hecla Mining stock
Initial price:	$11.03
Protection price:	$7.17, 65% of $11.03
Exchange ratio:	90.661831
Pricing date:	Dec. 14
Settlement date:	Dec. 21
Agent:	Barclays Capital
Cusip:	06740PYF7

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