New Issue: Barclays sells $6 million 12.75% reverse convertibles linked to eBay

By Jennifer Chiou

New York, Aug. 24 - Barclays Bank plc priced $6 million of 12.75% reverse convertible notes due Feb. 26, 2007 linked to eBay Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if eBay stock stays at or above the protection price of $18.89, which is 70% of the initial price of $26.99, between Aug. 23, 2006 and Feb. 23, 2007. Otherwise, the payout will be in eBay stock, with the number of shares equal to $1,000 divided by the initial share price.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	eBay Inc.
Amount:	$6 million
Maturity:	Feb. 26, 2007
Coupon:	12.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if eBay stock stays at or above the protection price of $18.89; otherwise shares of eBay stock equal to $1,000 divided by the initial price
Initial price:	$26.99
Protection price:	$18.89, 70% of initial price
Pricing date:	Aug. 23
Settlement date:	Aug. 25
Calculation agent:	Barclays Capital

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