New Issue: Barclays prices $500,000 10% reverse convertibles linked to Micron Technology

New York, July 28 - Barclays Bank plc priced $500,000 of 10% reverse convertible notes due Oct. 31, 2011 linked to Micron Technology, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Micron Technology shares fall below the protection price of $5.89, 75% of the initial price of $7.85, during the life of the notes and finish below the initial price in which case the payout will be 127.388535 shares of Micron Technology stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Micron Technology, Inc. (Symbol: MU)
Amount:	$500,000
Maturity:	Oct. 31, 2011
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Micron Technology shares fall below the protection price of $5.89, 75% of the initial price, and finish below the initial price, in which case 127.388535 shares of Micron Technology stock
Initial price:	$7.85
Protection price:	$5.89, 75% of $7.85
Exchange ratio:	127.388535
Pricing date:	July 26
Settlement date:	July 29
Agent:	Barclays Capital
Fees:	1.25%
Cusip:	06741JKC2

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