New Issue: Barclays prices $1.25 million 13% reverse convertibles linked to Ford

New York, May 21 - Barclays Bank plc priced $1.25 million of 13% reverse convertible notes due Nov. 21, 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 unless Ford Motor stock falls below the protection price of $6.95, 80% of the initial price of $8.69, during the life of the notes and finishes below the initial price in which case the payout will be 115.074799 shares of Ford Motor stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Ford Motor Co.
Amount:	$1.25 million
Maturity:	Nov. 21, 2007
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Ford stock stays at or above the protection price of $6.95 and finishes at or above the initial price; otherwise 115.074799 shares of Ford stock
Initial price:	$8.69
Protection price:	$6.95, 80% of $8.69
Exchange ratio:	115.074799
Pricing date:	May 18
Settlement date:	May 23
Agent:	Barclays Capital
Agent fee:	2%

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