New Issue: Barclays sells $1.5 million 11.25% notes linked to Micron

By Angela McDaniels

Seattle, Oct. 16 - Barclays Bank plc priced a $1.5 million issue of 11.25% reverse convertible notes due Oct. 17, 2007 linked to Micron Technology, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Micron stock falls below the protection price of $11.24 during the life of the notes and finishes below the initial share price of $14.98, in which case the payout will be a number of shares of Micron stock equal to $1,000 divided by the initial share price.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Micron Technology, Inc.
Amount:	$1.5 million
Maturity:	Oct. 17, 2007
Coupon:	11.25%, payable at maturity
Price:	Par
Payout at maturity:	Par in cash if Micron stock stays at or above the protection price of $11.24 and finishes at or above the initial price; otherwise 66.7557 shares of Micron stock
Initial price:	$14.98
Protection price:	$11.24, 75% of initial price
Pricing date:	Oct. 12
Settlement date:	Oct. 17
Agent:	Barclays Capital Inc.
Agent fees:	300 basis points

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