New Issue: Barclays prices an additional $2 million of 10.25% reverse convertibles tied to JPMorgan

By Toni Weeks

San Diego, Oct. 19 - Barclays Bank plc priced an additional $2 million of 10.25% reverse convertible notes due Sept. 28, 2012 linked to JPMorgan Chase & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $2.65 million, up from $650,000.

The payout at maturity will be par in cash unless JPMorgan shares fall below the protection price of $23.68, 75% of the initial price of $31.57, during the life of the notes and finish below the initial price in which case the payout will be 31.675641 shares of JPMorgan stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	JPMorgan Chase & Co. (Symbol: JPM)
Amount:	$2.65 million, increased from $650,000
Maturity:	Sept. 28, 2012
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless JPMorgan shares fall below the protection price of $23.68, 75% of the initial price, and finish below the initial price, in which case 31.675641 shares of JPMorgan stock
Initial price:	$31.57
Protection price:	$23.68, 75% of $31.57
Exchange ratio:	31.675641
Pricing dates:	Sept. 27 for $650,000, Oct. 18 for $2 million
Settlement dates:	Sept. 30 for $650,000, Oct. 21 for $2 million
Agent:	Barclays Capital
Cusip:	06741JMP1

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