New Issue: Barclays prices $1 million 16.25% reverse convertibles linked to Potash

New York, July 30 - Barclays Bank plc priced $1 million of 16.25% reverse convertible notes due July 27, 2009 linked to Potash Corp. of Saskatchewan Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Potash shares fall below the protection price of $139.06, 70% of the initial price of $198.65, during the life of the notes and finish below the initial price in which case the payout will be 5.033979 shares of Potash stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Potash Corp. of Saskatchewan Inc. (Symbol: POT)
Amount:	$1 million
Maturity:	July 27, 2009
Coupon:	16.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Potash shares fall below the protection price of $139.06, 70% of the initial price, and finish below the initial price, in which case 5.033979 shares of Potash stock
Initial price:	$198.65
Protection price:	$139.06, 70% of $198.65
Exchange ratio:	5.033979
Pricing date:	July 28
Settlement date:	July 30
Agent:	Barclays Capital
Fees:	2.5%

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