New Issue: Barclays prices $2.5 million 9.35% reverse convertibles linked to Best Buy

New York, June 29 - Barclays Bank plc priced $2.5 million of 9.35% reverse convertible notes due Dec. 27, 2007 linked to Best Buy Co., Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Best Buy stock falls below the protection price of $38.24, 85% of the initial price of $44.99, during the life of the notes and finishes below the initial price in which case the payout will be 22.227162 shares of Best Buy stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Best Buy Co., Inc.
Amount:	$2.5 million
Maturity:	Dec. 27, 2007
Coupon:	9.35%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Best Buy stock stays at or above the protection price of $38.24 and finishes at or above the initial price; otherwise 22.227162 shares of Best Buy stock
Initial price:	$44.99
Protection price:	$38.24, 85% of $44.99
Exchange ratio:	22.227162
Pricing date:	June 26
Settlement date:	June 29
Agent:	Barclays Capital
Agent fee:	1.625%

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