New Issue: Barclays prices $3 million 15.25% reverse convertibles linked to Devon Energy

New York, Aug. 28 - Barclays Bank plc priced $3 million of 15.25% reverse convertible notes due Feb. 27, 2009 linked to Devon Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Devon Energy shares fall below the protection price of $78.94, 75% of the initial price of $105.25, during the life of the notes and finish below the initial price in which case the payout will be 9.501188 shares of Devon Energy stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Devon Energy Corp. (Symbol: DVN)
Amount:	$3 million
Maturity:	Feb. 27, 2009
Coupon:	15.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Devon Energy shares fall below the protection price of $78.94, 75% of the initial price, and finish below the initial price, in which case 9.501188 shares of Devon Energy stock
Initial price:	$105.25
Protection price:	$78.94, 75% of $105.25
Exchange ratio:	9.501188
Pricing date:	Aug. 26
Settlement date:	Aug. 29
Agent:	Barclays Capital
Fees:	1.625%

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