New Issue: Barclays prices $7 million 9.75% autocallable reverse convertibles tied to Facebook

By Jennifer Chiou

New York, May 7 - Barclays Bank plc priced $7 million of 9.75% single observation autocallable reverse convertible notes due May 7, 2015 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if Facebook shares close at or above the initial share price on any quarter review date.

If the notes are not called, the payout at maturity will be par unless the final share price is less than the 70% trigger level, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price or the cash value of those shares.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Single observation autocallable reverse convertible notes
Underlying stock:	Facebook, Inc. (Nasdaq: FB)
Amount:	$7 million
Maturity:	May 7, 2015
Coupon:	9.75%, payable monthly
Price:	Par
Payout at maturity:	Par unless Facebook stock finishes below protection price, in which case Facebook shares equal to $1,000 divided by the initial share price or the cash value of those shares
Call:	At par if closing share price is at or above initial share price on quarterly review date
Initial share price:	$61.22
Protection price:	$42.85, 70% of initial share price
Pricing date:	May 5
Settlement date:	May 8
Agent:	Barclays
Fees:	2.75%
Cusip:	06741J7N3

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