New Issue: Barclays prices $0.25 million 14.5% reverse convertibles linked to Stillwater Mining

New York, March 30 - Barclays Bank plc priced $0.25 million of 14.5% reverse convertible notes due June 30, 2010 linked to Stillwater Mining Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Stillwater Mining shares fall below the protection price of $8.20, 65% of the initial price of $12.62, during the life of the notes and finish below the initial price in which case the payout will be 79.239303 shares of Stillwater Mining stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Stillwater Mining Co. (Symbol: SWC)
Amount:	$0.25 million
Maturity:	June 30, 2010
Coupon:	14.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Stillwater Mining shares fall below the protection price of $8.20, 65% of the initial price, and finish below the initial price, in which case 79.239303 shares of Stillwater Mining stock
Initial price:	$12.62
Protection price:	$8.20, 65% of $12.62
Exchange ratio:	79.239303
Pricing date:	March 26
Settlement date:	March 31
Agent:	Barclays Capital
Fees:	0.65%
Cusip:	06740JT34

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