New Issue: Barclays sells $2.5 million 13.5% exchangeables linked to Rambus

By Jennifer Chiou

New York, April 12 - Barclays Bank plc priced $2.5 million of one-year 13.5% exchangeable notes due April 13, 2007 linked to Rambus Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Issuer:	Barclays Bank plc
Issue:	Exchangeable medium-term series A notes
Underlying stock:	Rambus Inc.
Amount:	$2.5 million
Maturity:	April 13, 2007
Coupon:	13.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless Rambus stock finishes below the initial price of $40.80 and falls below the protection price of $20.40 between April 11, 2006 and April 11, 2007, in which case $1,000/$40.80 shares per $1,000 principal amount
Initial share price:	$40.80
Protection price:	$20.40, 50% of initial price
Pricing date:	April 11
Settlement date:	April 13
Underwriter:	Barclays Capital

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