New Issue: Barclays prices $10 million 14.1% reverse convertibles linked to Rambus

New York, May 27 - Barclays Bank plc priced $10 million of 14.1% reverse convertible notes due Nov. 30, 2011 linked to Rambus Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Rambus shares fall below the protection price of $9.05, 65% of the initial price of $13.93, during the life of the notes and finish below the initial price in which case the payout will be 71.787509 shares of Rambus stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Rambus Inc. (Symbol: RMBS)
Amount:	$10 million
Maturity:	Nov. 30, 2011
Coupon:	14.1%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Rambus shares fall below the protection price of $9.05, 65% of the initial price, and finish below the initial price, in which case 71.787509 shares of Rambus stock
Initial price:	$13.93
Protection price:	$9.05, 65% of $13.93
Exchange ratio:	71.787509
Pricing date:	May 25
Settlement date:	May 31
Agent:	Barclays Capital
Fees:	1.625%
Cusip:	06741JHD4

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