New Issue: Barclays prices $2.5 million 11% reverse convertibles linked to ConocoPhillips

New York, Nov. 29 - Barclays Bank plc priced $2.5 million of 11% reverse convertible notes due May 30, 2008 linked to ConocoPhillips stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless ConocoPhillips stock falls below the protection price of $60.85, 80% of the initial price of $76.06, during the life of the notes and finishes below the initial price in which case the payout will be 13.147515 shares of ConocoPhillips stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	ConocoPhillips (Symbol: COP)
Amount:	$2.5 million
Maturity:	May 30, 2008
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless ConocoPhillips stock falls below the protection price of $60.85, 80% of the initial price, and finishes below the initial price, in which case 13.147515 shares of ConocoPhillips stock.
Initial price:	$76.06
Protection price:	$60.85, 80% of $76.06
Exchange ratio:	13.147515
Pricing date:	Nov. 27
Settlement date:	Nov. 30
Agent:	Barclays Capital
Agent fee:	1.625%

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