New Issue: Barclays prices additional $1 million of 19% reverse convertibles linked to Joy Global

By Toni Weeks

San Diego, Nov. 20 - Barclays Bank plc priced another $1 million of 19% reverse convertible notes due March 15, 2013 linked to Joy Global Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $1.32 million. The initial $320,000 of the notes priced Sept. 12.

The payout at maturity will be par in cash unless Joy Global shares fall below the protection price of $45.35, 80% of the initial price of $56.69, during the life of the notes and finish below the initial price in which case the payout will be 17.6398 shares of Joy Global stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Joy Global Inc. (Symbol: JOY)
Amount:	$1.32 million, increased from $320,000
Maturity:	March 15, 2013
Coupon:	19%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Joy Global shares fall below the protection price of $45.35, 80% of the initial price, and finish below the initial price, in which case 17.6398 shares of Joy Global stock
Initial price:	$56.69
Protection price:	$45.35, 80% of $56.69
Exchange ratio:	17.6398
Pricing date:	Sept. 12 for $320,000; Nov. 20 for $1 million
Settlement date:	Sept. 17 for $320,000; Nov. 23 for add-on
Agent:	Barclays Capital
Cusip:	06741JP78

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