New Issue: Barclays sells $1.25 million 12.75% reverse convertibles linked to Circuit City

By E. Janene Geiss

Philadelphia, April 9 - Barclays Bank plc priced $1.25 million of 12.75% reverse convertible notes due Oct. 11, 2007 linked to Circuit City Stores, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if Circuit City stock stays at or above the protection price, 80% of the initial price of $18.47, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be 54.142 shares of Circuit City stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Circuit City Stores, Inc.
Amount:	$1.25 million
Maturity:	Oct. 11, 2007
Coupon:	12.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Circuit City stock stays at or above the protection price of $14.78 and finishes at or above the initial price; otherwise 54.142 shares of Circuit City stock
Initial price:	$18.47
Protection price:	$14.78, 80% of $18.47
Pricing date:	April 5
Settlement date:	April 11
Agent:	Barclays Capital
Agent fee:	2%

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