New Issue: Barclays prices $1 million 10.5% reverse convertibles linked to Janus Capital

New York, March 31 - Barclays Bank plc priced $1 million of 10.5% reverse convertible notes due March 30, 2011 linked to Janus Capital Group Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Janus Capital shares fall below the protection price of $11.42, 80% of the initial price of $14.27, during the life of the notes and finish below the initial price in which case the payout will be 70.077085 shares of Janus Capital stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Janus Capital Group Inc. (Symbol: JNS)
Amount:	$1 million
Maturity:	March 30, 2011
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Janus Capital shares fall below the protection price of $11.42, 80% of the initial price, and finish below the initial price, in which case 70.077085 shares of Janus Capital stock
Initial price:	$14.27
Protection price:	$11.42, 80% of $14.27
Exchange ratio:	70.077085
Pricing date:	March 26
Settlement date:	March 31
Agent:	Barclays Capital
Fees:	0.6%
Cusip:	06740JX96

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