New Issue: Barclays sells $1.665 million 11.15% exchangeables linked to Commercial Metals

By Jennifer Chiou

New York, June 13 - Barclays Bank plc priced $1.665 million one-year 11.15% exchangeable notes linked to Commercial Metals Co. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

The Irving, Texas-based company manufactures, recycles and distributes steel and metal products.

Issuer:	Barclays Bank plc
Issue:	Exchangeable medium-term notes, series A
Underlying stock:	Commercial Metals Co.
Amount:	$1.665 million
Maturity:	June 15, 2006
Coupon:	11.15%, payable monthly
Price:	Par
Payout at maturity:	Par unless Commercial Metals Co. stock finishes below the initial price of $26.32 and it falls below the protection price of $15.79 between June 8, 2005 and June 8, 2006, in which case $1,000/$26.32 shares per $1,000 principal amount
Protection price:	$15.79 (60% of initial price)
Initial share price:	$26.32
Pricing date:	June 8
Settlement date:	June 15
Underwriter:	Barclays Capital

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