New Issue: Barclays prices $250,000 9% reverse convertibles linked to Apple

New York, June 29 - Barclays Bank plc priced $250,000 of 9% reverse convertible notes due June 30, 2011 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Apple shares fall below the protection price of $199.48, 75% of the initial price of $265.97, during the life of the notes and finish below the initial price in which case the payout will be 3.759823 shares of Apple stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Apple Inc. (Symbol: AAPL)
Amount:	$250,000
Maturity:	June 30, 2011
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Apple shares fall below the protection price of $199.48, 75% of the initial price, and finish below the initial price, in which case 3.759823 shares of Apple stock
Initial price:	$265.97
Protection price:	$199.48, 75% of $265.97
Exchange ratio:	3.759823
Pricing date:	June 25
Settlement date:	June 30
Agent:	Barclays Capital
Fees:	3%
Cusip:	06740L7M1

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