New Issue: Barclays prices $1 million more 13.25% reverse convertibles on Peabody

By Toni Weeks

San Diego, March 9 - Barclays Bank plc priced another $1 million of 13.25% reverse convertible notes due July 31, 2012 linked to Peabody Energy shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $2.3 million. Barclays issued $300,000 of the notes on Jan. 31 and $1 million of the notes on Feb. 17.

The payout at maturity will be par in cash unless Peabody shares fall below the protection price of $25.12, 70% of the initial price of $35.89, during the life of the notes and finish below the initial price in which case the payout will be 27.862914 shares of Peabody stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Peabody Energy (Symbol: BTU)
Amount:	$2.3 million (up from original $300,000)
Maturity:	July 31, 2012
Coupon:	13.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Peabody shares fall below the protection price of $25.12, 70% of the initial price, and finish below the initial price, in which case 27.862914 shares of Peabody stock
Initial price:	$35.89
Protection price:	$25.12, 70% of $35.89
Exchange ratio:	27.862914
Pricing dates:	Jan. 26 for $300,000; Feb. 14 for $1 million; March 7 for $1 million
Settlement dates:	Jan. 31 for original issue; Feb. 17 for $1 million; March 12 for $1 million
Agent:	Barclays Capital
Fees:	1.3%
Cusip:	06741JQR3

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