New Issue: Barclays prices $1 million 17.25% reverse convertibles linked to Stillwater Mining

New York, Aug. 30 - Barclays Bank plc priced $1 million of 17.25% reverse convertible notes due Feb. 28, 2011 linked to Stillwater Mining Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Stillwater Mining shares fall below the protection price of $9.30, 70% of the initial price of $13.28, during the life of the notes and finish below the initial price in which case the payout will be 75.301205 shares of Stillwater Mining stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Stillwater Mining Co. (Symbol: SWC)
Amount:	$1 million
Maturity:	Feb. 28, 2011
Coupon:	17.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Stillwater Mining shares fall below the protection price of $9.30, 70% of the initial price, and finish below the initial price, in which case 75.301205 shares of Stillwater Mining stock
Initial price:	$13.28
Protection price:	$9.30, 70% of $13.28
Exchange ratio:	75.301205
Pricing date:	Aug. 26
Settlement date:	Aug. 31
Agent:	Barclays Capital
Fees:	0.3%
Cusip:	06740PJS6

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