New Issue: Barclays sells another $1 million 8.5% reverse convertibles on JPMorgan

By Susanna Moon

Chicago, Sept. 7 - Barclays Bank plc priced another $1 million of 8.5% reverse convertible notes due Aug. 14, 2013 linked to JPMorgan Chase & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $1.12 million, up from $122,000.

The payout at maturity will be par in cash unless JPMorgan shares fall below the protection price of $29.58, 80% of the initial price of $36.97, during the life of the notes and finish below the initial price in which case the payout will be 27.048959 shares of JPMorgan stock.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	JPMorgan Chase & Co. (Symbol: JPM)
Amount:	$1,122,000, up from $122,000
Maturity:	Aug. 14, 2013
Coupon:	8.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless JPMorgan shares fall below the protection price of $29.58, 80% of the initial price, and finish below the initial price, in which case 27.048959 shares of JPMorgan stock
Initial price:	$36.97
Protection price:	$29.58, 80% of $36.97
Exchange ratio:	27.048959
Pricing date:	Aug. 10 for $122,000, Sept. 5 for $1 million
Settlement date:	Aug. 15 for $122,000, Sept. 10 for $1 million
Agent:	Barclays
Fees:	2.5%
Cusip:	06741JM63

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