New Issue: Barclays sells $3 million 10.25% reverse convertibles linked to Harley-Davidson

By Jennifer Chiou

New York, Nov. 14 - Barclays Bank plc priced $3 million of 10.25% reverse convertible notes due Nov. 18, 2008 linked to Harley-Davidson, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

Payout at maturity will be par in cash if Harley-Davidson stock stays at or above the protection price, 75% of the initial share price of $49.87, during the life of the notes or finishes at or above the initial share price. Otherwise, the payout will be in Harley-Davidson stock, with the number of shares equal to $1,000 divided by the initial share price.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Harley-Davidson, Inc. (NYSE: HOG)
Amount:	$3 million
Maturity:	Nov. 18, 2008
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Harley-Davidson stock stays at or above the protection price of $37.40 during the life of the notes or finishes at or above the initial share price; otherwise shares of Harley-Davidson stock equal to $1,000 divided by the initial share price
Initial share price:	$49.87
Protection price:	$37.40, 75% of $49.87
Pricing date:	Nov. 13
Settlement date:	Nov. 23
Agent:	Barclays Capital
Fees:	2.25%

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