New Issue: Barclays prices $6.6 million 8% reverse convertibles on Charles Schwab

By Marisa Wong

Madison, Wis., Oct. 10 - Barclays Bank plc priced $6.6 million of 8% reverse convertible notes due Oct. 11, 2013 linked to Charles Schwab Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Charles Schwab shares fall below 80% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Charles Schwab shares equal to $1,000 divided by the initial price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Charles Schwab Corp. (Symbol: SCHW)
Amount:	$6.6 million
Maturity:	Oct. 11, 2013
Coupon:	8%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Charles Schwab shares fall below 80% of initial price during life of notes and finish below initial price, in which case a number of Charles Schwab shares equal to $1,000 divided by initial price
Initial price:	$12.93
Protection price:	$10.34, 80% of initial price
Exchange ratio:	77.339520 shares
Pricing date:	Oct. 9
Settlement date:	Oct. 12
Agent:	Barclays
Fees:	2.75%
Cusip:	06741JTN9

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