New Issue: Barclays prices $250,000 10% reverse convertibles linked to Peabody Energy

New York, July 27 - Barclays Bank priced $250,000 of 10% reverse convertible notes due Oct. 28, 2010 linked to Peabody Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Peabody Energy shares fall below the protection price of $36.34, 80% of the initial price of $45.43, during the life of the notes and finish below the initial price in which case the payout will be 22.011886 shares of Peabody Energy stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank
Issue:	Reverse convertible notes
Underlying stock:	Peabody Energy Corp. (Symbol: BTU)
Amount:	$250,000
Maturity:	Oct. 28, 2010
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Peabody Energy shares fall below the protection price of $36.34, 80% of the initial price, and finish below the initial price, in which case 22.011886 shares of Peabody Energy stock
Initial price:	$45.43
Protection price:	$36.34, 80% of $45.43
Exchange ratio:	22.011886
Pricing date:	July 23
Settlement date:	July 28
Agent:	Barclays Capital
Fees:	0.65%
Cusip:	06740PDK9

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