New Issue: Barclays prices $1 million 9% reverse convertibles linked to Carrizo Oil

New York, Jan. 16 - Barclays Bank plc priced $1 million of 9% reverse convertible notes due April 18, 2013 linked to Carrizo Oil & Gas, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Carrizo Oil shares fall below the protection price of $14.35, 69.06% of the initial price of $20.78, during the life of the notes and finish below the initial price in which case the payout will be 48.1232 shares of Carrizo Oil stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Carrizo Oil & Gas, Inc. (Symbol: CRZO)
Amount:	$1 million
Maturity:	April 18, 2013
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Carrizo Oil shares fall below the protection price of $14.35, 69.06% of the initial price, and finish below the initial price, in which case 48.1232 shares of Carrizo Oil stock
Initial price:	$20.78
Protection price:	$14.35, 69.06% of $20.78
Exchange ratio:	48.1232
Pricing date:	Jan. 15
Settlement date:	Jan. 18
Agent:	Barclays Capital
Cusip:	06741JWP0

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