New Issue: Barclays sells $1.5 million 12% exchangeables linked to First Marblehead

By Jennifer Chiou

New York, Sept. 23 - Barclays Bank plc priced $1.5 million of one-year 12% exchangeable notes linked to the common stock of The First Marblehead Corp., according to a 424B3 filing with the Securities and Exchange Commission.

Issuer:	Barclays Bank plc
Issue:	Exchangeable medium-term series A notes
Underlying stock:	The First Marblehead Corp.
Amount:	$1.5 million
Maturity:	Sept. 22, 2006
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	Par unless First Marblehead stock finishes below the initial price of $28.81 and it falls below the protection price of $18.73 between Sept.16, 2005 and Sept. 15, 2006, in which case $1,000/$28.81 shares per $1,000 principal amount
Protection price:	$18.73, 65% of initial price
Initial price:	$28.81
Pricing date:	Sept. 16
Settlement date:	Sept. 23
Underwriter:	Barclays Capital

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