New Issue: Barclays prices $10 million more 12% reverse convertibles on Freeport

By Jennifer Chiou

New York, June 9 - Barclays Bank plc priced another $10 million of 12% reverse convertible notes due Nov. 30, 2011 linked to Freeport-McMoRan Copper & Gold Inc. shares, bringing the total amount to $20 million, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Freeport-McMoRan shares fall below the protection price of $39.98, 80% of the initial price of $49.98, during the life of the notes and finish below the initial price in which case the payout will be 20.008003 shares of Freeport-McMoRan stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Freeport-McMoRan Copper & Gold Inc. (Symbol: FCX)
Amount:	$20 million (up from original $10 million)
Maturity:	Nov. 30, 2011
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Freeport-McMoRan shares fall below the protection price of $39.98, 80% of the initial price, and finish below the initial price, in which case 20.008003 shares of Freeport-McMoRan stock
Initial price:	$49.98
Protection price:	$39.98, 80% of $49.98
Exchange ratio:	20.008003
Pricing date:	May 25 for original $10 million; June 7 for $10 million
Settlement date:	May 31 for original notes; June 10 for add-on
Agent:	Barclays Capital
Fees:	1.625%
Cusip:	06741JHC6

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