New Issue: Barclays prices $4 million 15.25% reverse convertibles linked to Ford

New York, June 10 - Barclays Bank plc priced $4 million of 15.25% reverse convertible notes due Dec. 10, 2008 linked to Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Ford shares fall below the protection price of $3.62, 60% of the initial price of $6.04, during the life of the notes and finishes below the initial price in which case the payout will be 165.562914 shares of Ford stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Ford Motor Co. (Symbol: F)
Amount:	$4 million
Maturity:	Dec. 10, 2008
Coupon:	15.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Ford stock falls below the protection price of $3.62, 60% of the initial price, and finishes below the initial price, in which case 165.562914 shares of Ford stock
Initial price:	$6.04
Protection price:	$3.62, 60% of $6.04
Exchange ratio:	165.562914
Pricing date:	June 6
Settlement date:	June 11
Agent:	Barclays Capital
Fees:	1.75%

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