New Issue: Barclays prices $1 million more 11.9% reverse convertibles on Alcoa

By Toni Weeks

San Diego, Nov. 17 - Barclays Bank plc priced an additional $1 million of 11.9% reverse convertible notes due March 30, 2012 linked to Alcoa Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Alcoa shares fall below the protection price of $8.38, 80% of the initial price of $10.48, during the life of the notes and finish below the initial price, in which case the payout will be 95.419847 shares of Alcoa stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Alcoa Inc. (Symbol: AA)
Amount:	$1.1 million, increased from $100,000
Maturity:	March 30, 2012
Coupon:	11.9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Alcoa shares fall below the protection price of $8.38, 80% of the initial price, and finish below the initial price, in which case 95.419847 shares of Alcoa stock
Initial price:	$10.48
Protection price:	$8.38, 80% of $10.48
Exchange ratio:	95.419847
Pricing dates:	Sept. 27 for $100,000; Nov. 16 for $1 million add-on
Settlement dates:	Sept. 30 for $100,000; Nov. 21 for $1 million add-on
Agent:	Barclays Capital
Fees:	2%
Cusip:	06741JMY2

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