New Issue: Barclays prices $350,000 8% single observation reverse convertibles tied to Apple

By Toni Weeks

San Diego, Dec. 13 - Barclays Bank plc priced $350,000 of 8% annualized single observation reverse convertible notes due June 13, 2012 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 $293.00, 75% of the initial price of $390.66, on the June 8, 2012 final valuation date, in which case the payout will be 0.559771 shares of Apple stock.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Single observation reverse convertible notes
Underlying stock:	Apple Inc. (Nasdaq: AAPL)
Amount:	$350,000
Maturity:	June 13, 2012
Coupon:	8%, payable monthly
Price:	Variable prices
Payout at maturity:	Par in cash unless Apple shares fall below the protection price of $293.00, 75% of the initial price, on June 8, 2012, in which case 0.559771 shares of Apple stock
Initial price:	$390.66
Protection price:	$293.00, 75% of initial level
Exchange ratio:	0.559771
Pricing date:	Dec. 9
Settlement date:	Dec. 14
Agent:	Barclays Capital Inc.
Fees:	1%
Cusip:	06741JQK8

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