New Issue: Barclays sells $2.5 million 12.8% notes linked to Boston Scientific

By Angela McDaniels

Seattle, Nov. 21 - Barclays Bank plc priced a $2.5 million issue of reverse convertible notes due May 22, 2007 linked to Boston Scientific Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 6.4% for an annualized rate of 12.8%.

Payout at maturity will be par in cash unless Boston Scientific falls below the protection price of $12.89 during the life of the notes and finishes below the initial price, in which case the payout will be a number of shares of Boston Scientific stock equal to $1,000 divided by the initial share price.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Boston Scientific Corp.
Amount:	$2.5 million
Maturity:	May 22, 2007
Coupon:	12.8%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Boston Scientific trades below the protection price of $12.98 and finishes below the initial price, in which case 61.61429 shares of Boston Scientific stock
Initial share price:	$16.23
Protection price:	$12.98, 80% of initial share price
Pricing date:	Nov. 17
Settlement date:	Nov. 22
Agent:	Barclays Capital Inc.
Agent fee:	1.5%

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