New Issue: Barclays prices $1 million 15.5% reverse convertibles linked to Goldman Sachs

New York, May 25 - Barclays Bank plc priced $1 million of 15.5% reverse convertible notes due Nov. 26, 2010 linked to Goldman Sachs Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Goldman Sachs shares fall below the protection price of $105.47, 75% of the initial price of $140.62, during the life of the notes and finish below the initial price in which case the payout will be 7.111364 shares of Goldman Sachs stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Goldman Sachs Group, Inc. (Symbol: GS)
Amount:	$1 million
Maturity:	Nov. 26, 2010
Coupon:	15.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Goldman Sachs shares fall below the protection price of $105.47, 75% of the initial price, and finish below the initial price, in which case 7.111364 shares of Goldman Sachs stock
Initial price:	$140.62
Protection price:	$105.47, 75% of $140.62
Exchange ratio:	7.111364
Pricing date:	May 21
Settlement date:	May 26
Agent:	Barclays Capital
Fees:	2%
Cusip:	06740LQ81

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