New Issue: Barclays prices $354,000 8.75% reverse convertibles linked to Alexion Pharmaceuticals

New York, July 2 - Barclays Bank plc priced $354,000 of 8.75% reverse convertible notes due June 27, 2014 linked to Alexion Pharmaceuticals, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Alexion Pharmaceuticals shares fall below the protection price of $69.18, 75% of the initial price of $92.24, during the life of the notes and finish below the initial price in which case the payout will be 10.841284 shares of Alexion Pharmaceuticals stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Alexion Pharmaceuticals, Inc. (Symbol: ALXN)
Amount:	$354,000
Maturity:	June 27, 2014
Coupon:	8.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Alexion Pharmaceuticals shares fall below the protection price of $69.18, 75% of the initial price, and finish below the initial price, in which case 10.841284 shares of Alexion Pharmaceuticals stock
Initial price:	$92.24
Protection price:	$69.18, 75% of $92.24
Exchange ratio:	10.841284
Pricing date:	June 28
Settlement date:	July 3
Agent:	Barclays Capital
Cusip:	06741J3G2

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