New Issue: Barclays sells $1.5 million 8.5% reverse convertibles linked to Pfizer

By Jennifer Chiou

New York, Dec. 15 - Barclays Bank plc priced $1.5 million of one-year 8.5% reverse convertible notes due Dec. 19, 2007 linked to the stock of Pfizer Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Issuer:	Barclays Bank plc
Issue:	Reverse convertibles notes
Underlying stock:	Pfizer Inc.
Amount:	$1.5 million
Maturity:	Dec. 19, 2007
Coupon:	8.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless Pfizer stock finishes below the initial price of $25.56 and it falls below the protection price of $20.45 between Dec. 15, 2006 and Dec. 14, 2007, in which case $1,000/$25.56 shares per $1,000 principal amount
Initial price:	$25.56
Protection price:	$20.45, 80% of initial price
Pricing date:	Dec. 15
Settlement date:	Dec. 20
Underwriter:	Barclays Capital
Fees:	1%

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