New Issue: Barclays prices $2 million 11% reverse convertibles linked to First Solar

New York, March 31 - Barclays Bank plc priced $2 million of 11% reverse convertible notes due Sept. 30, 2010 linked to First Solar, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless First Solar shares fall below the protection price of $93.20, 80% of the initial price of $116.50, during the life of the notes and finish below the initial price in which case the payout will be 8.583691 shares of First Solar stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	First Solar, Inc. (Symbol: FSLR)
Amount:	$2 million
Maturity:	Sept. 30, 2010
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless First Solar shares fall below the protection price of $93.20, 80% of the initial price, and finish below the initial price, in which case 8.583691 shares of First Solar stock
Initial price:	$116.50
Protection price:	$93.20, 80% of $116.50
Exchange ratio:	8.583691
Pricing date:	March 26
Settlement date:	March 31
Agent:	Barclays Capital
Fees:	1.625%
Cusip:	06740J5F3

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