New Issue: Barclays prices $2 million 10.5% reverse convertibles linked to Boston Scientific

New York, June 29 - Barclays Bank plc priced $2 million of 10.5% reverse convertible notes due June 27, 2008 linked to Boston Scientific Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Boston Scientific stock falls below the protection price of $11.60, 75% of the initial price of $15.47, during the life of the notes and finishes below the initial price in which case the payout will be 64.641241 shares of Boston Scientific stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Boston Scientific Corp.
Amount:	$2 million
Maturity:	June 27, 2008
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Boston Scientific stock stays at or above the protection price of $11.60 and finishes at or above the initial price; otherwise 64.641241 shares of Boston Scientific stock
Initial price:	$15.47
Protection price:	$11.60, 75% of $15.47
Exchange ratio:	64.641241
Pricing date:	June 26
Settlement date:	June 29
Agent:	Barclays Capital
Agent fee:	2.5%

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