New Issue: Barclays prices $1 million more 9% reverse convertibles linked to Apple

By Jennifer Chiou

New York, Oct. 16 - Barclays Bank plc priced another $1 million of 9% reverse convertible notes due Sept. 18, 2013 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $5,625,000. The issuer priced $625,000 of the notes on Sept. 14, and another $1 million of notes on each of Sept. 27, Oct. 1, Oct. 4 and Oct. 12.

The payout at maturity will be par in cash unless Apple shares fall below the protection price of $553.02, 80% of the initial price of $691.28, during the life of the notes and finish below the initial price in which case the payout will be 1.44659 shares of Apple stock.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Apple Inc. (Symbol: AAPL)
Amount:	$5,625,000, increased from $625,000
Maturity:	Sept. 18, 2013
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Apple shares fall below the protection price of $553.02, 80% of the initial price, and finish below the initial price, in which case 1.44659 shares of Apple stock
Initial price:	$691.28
Protection price:	$553.02, 80% of $691.28
Exchange ratio:	1.44659
Pricing dates:	Sept. 14 for $625,000; Sept. 27 for $1 million; Oct. 1 for $1 million; Oct. 4 for $1 million; Oct. 12 for $1 million; Oct. 16 for $1 million
Settlement dates:	Sept. 19 for $625,000; Oct. 2 for $1 million; Oct. 3 for $1 million Oct. 10 for $1 million; Oct. 17 for $1 million; Oct. 18 for $1 million
Agent:	Barclays
Fees:	2.5%
Cusip:	06741JR43

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