New Issue: Barclays prices $100,000 14.5% reverse convertibles linked to Western Refining

New York, Aug. 30 - Barclays Bank plc priced $100,000 of 14.5% reverse convertible notes due Feb. 29, 2012 linked to Western Refining, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Western Refining shares fall below the protection price of $12.05, 70% of the initial price of $17.22, during the life of the notes and finish below the initial price in which case the payout will be 58.072009 shares of Western Refining stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Western Refining, Inc. (Symbol: WNR)
Amount:	$100,000
Maturity:	Feb. 29, 2012
Coupon:	14.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Western Refining shares fall below the protection price of $12.05, 70% of the initial price, and finish below the initial price, in which case 58.072009 shares of Western Refining stock
Initial price:	$17.22
Protection price:	$12.05, 70% of $17.22
Exchange ratio:	58.072009
Pricing date:	Aug. 26
Settlement date:	Aug. 31
Agent:	Barclays Capital
Fees:	2%
Cusip:	06741JMG1

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