New Issue: Barclays sells $1.5 million 16.25% reverse convertibles linked to Advanced Micro Devices

By E. Janene Geiss

Philadelphia, Dec. 12 - Barclays Bank plc priced $1.5 million of 16.25% reverse convertible notes due June 13, 2007 linked to Advanced Micro Devices, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if Advanced Micro Devices stock stays at or above the protection price, 70% of the initial price of $21.00, between Dec. 8, 2006 and June 8, 2007, and finishes at or above the initial price.

Otherwise, the payout will be in Advanced Micro Devices stock, with the number of shares equal to $1,000 divided by the initial share price.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Advanced Micro Devices, Inc.
Amount:	$1.5 million
Maturity:	June 13, 2007
Coupon:	16.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Advanced Micro Devices stock stays at or above the protection price of $14.70 and finishes at or above the initial price; otherwise shares of Advanced Micro Devices stock equal to $1,000 divided by the initial price
Initial price:	$21.00
Protection price:	$14.70, 70% of $21.00
Pricing date:	Dec. 8
Settlement date:	Dec. 13
Agent:	Barclays Capital
Agent fee:	1.5%

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