New Issue: Barclays prices $1 million 11.25% reverse convertibles linked to Frontier Oil

New York, Dec. 30 - Barclays Bank plc priced $1 million of 11.25% reverse convertible notes due June 28, 2010 linked to Frontier Oil Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Frontier Oil shares fall below the protection price of $8.68, 75% of the initial price of $11.57, during the life of the notes and finish below the initial price in which case the payout will be 86.430424 shares of Frontier Oil stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Frontier Oil Corp. (Symbol: FTO)
Amount:	$1 million
Maturity:	June 28, 2010
Coupon:	11.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Frontier Oil shares fall below the protection price of $8.68, 75% of the initial price, and finish below the initial price, in which case 86.430424 shares of Frontier Oil stock
Initial price:	$11.57
Protection price:	$8.68, 75% of $11.57
Exchange ratio:	86.430424
Pricing date:	Dec. 23
Settlement date:	Dec. 31
Agent:	Barclays Capital
Fees:	1.625%

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