New Issue: Barclays prices $10 million more 9% reverse convertibles linked to Abercrombie & Fitch

By Jennifer Chiou

New York, May 21 - Barclays Bank plc priced another $10 million of 9% reverse convertible notes due Feb. 25, 2011 linked to Abercrombie & Fitch Co. class A shares, bringing the total issue amount to $12.5 million, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Abercrombie & Fitch shares fall below the protection price of $28.13, 80% of the initial price of $35.16, during the life of the notes and finish below the initial price in which case the payout will be 28.441411 shares of Abercrombie & Fitch stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Abercrombie & Fitch Co. (class A) (Symbol: ANF)
Amount:	$12.5 million (up from $2.5 million)
Maturity:	Feb. 25, 2011
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Abercrombie & Fitch shares fall below the protection price of $28.13, 80% of the initial price, and finish below the initial price, in which case 28.441411 shares of Abercrombie & Fitch stock
Initial price:	$35.16
Protection price:	$28.13, 80% of $35.16
Exchange ratio:	28.441411
Pricing date:	Feb. 23 for original $2.5 million; May 20 for $10 million
Settlement date:	Feb. 26 for original $2.5 million; May 21 for $10 million
Agent:	Barclays Capital
Fees:	2.5%
Cusip:	06740JC65

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