New Issue: Barclays prices $2.5 million 15% reverse convertibles linked to Ford

New York, May 8 - Barclays Bank plc priced $2.5 million of 15% reverse convertible notes due Nov. 7, 2007 linked to Ford Motor Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if Ford Motor stock stays at or above the protection price of $6.58, 80% of the initial price of $8.22, during the life of the notes or finishes at or above the initial price. Otherwise, the payout will be 121.654501 shares of Ford Motor stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Ford Motor Co.
Amount:	$2.5 million
Maturity:	Nov. 7, 2007
Coupon:	15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Ford stock stays at or above the protection price of $6.58 or finishes at or above the initial price; otherwise 121.654501 shares of Ford stock
Initial price:	$8.22
Protection price:	$6.58, 80% of 8.22
Exchange ratio:	121.654501
Pricing date:	May 4
Settlement date:	May 9
Agent:	Barclays Capital
Agent fee:	2%

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