New Issue: Barclays prices $3 million add-on to 9.5% reverse convertibles linked to Dow Chemical

By Angela McDaniels

Tacoma, Wash., Nov. 3 - Barclays Bank plc priced $3 million of additional 9.5% reverse convertible notes due Oct. 28, 2011 linked to Dow Chemical Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The original $1 million of notes priced Oct. 26. The total issue size is now $4 million.

The payout at maturity will be par in cash unless Dow Chemical shares fall below the protection price of $25.20, 80% of the initial price of $31.50, during the life of the notes and finish below the initial price in which case the payout will be 31.746032 shares of Dow Chemical stock.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Dow Chemical Co. (Symbol: DOW)
Amount:	$4 million, increased from $1 million
Maturity:	Oct. 28, 2011
Coupon:	9.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Dow Chemical shares fall below the protection price of $25.20, 80% of the initial price, and finish below the initial price, in which case 31.746032 shares of Dow Chemical stock
Initial price:	$31.50
Protection price:	$25.20, 80% of $31.50
Exchange ratio:	31.746032
Pricing dates:	Oct. 26 for $1 million; Nov. 3 for $3 million
Settlement dates:	Oct. 29 for $1 million; Nov. 8 for $3 million
Agent:	Barclays Capital Inc.
Fees:	2.5%
Cusip:	06740PSP2

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