New Issue: Barclays prices $250,000 14.5% reverse convertibles linked to Foster Wheeler

New York, July 27 - Barclays Bank plc priced $250,000 of 14.5% reverse convertible notes due Oct. 28, 2010 linked to Foster Wheeler AG shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Foster Wheeler shares fall below the protection price of $17.58, 75% of the initial price of $23.44, during the life of the notes and finish below the initial price in which case the payout will be 42.662116 shares of Foster Wheeler stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Foster Wheeler AG (Symbol: FWLT)
Amount:	$250,000
Maturity:	Oct. 28, 2010
Coupon:	14.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Foster Wheeler shares fall below the protection price of $17.58, 75% of the initial price, and finish below the initial price, in which case 42.662116 shares of Foster Wheeler stock
Initial price:	$23.44
Protection price:	$17.58, 75% of $23.44
Exchange ratio:	42.662116
Pricing date:	July 23
Settlement date:	July 28
Agent:	Barclays Capital
Fees:	1.25%
Cusip:	06740PEJ1

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