New Issue: Barclays prices $5 million 10% reverse convertibles linked to Home Depot

By E. Janene Geiss

Philadelphia, Aug. 24 - Barclays Bank plc priced $5 million of 10% reverse convertible notes due Aug. 27, 2008 linked to the Home Depot, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

Payout at maturity will be par in cash unless Home Depot stock falls below the protection price of $23.81, 70% of the initial price of $34.02, during the life of the notes and finishes below the initial price, in which case the payout will be 29.394 shares of Home Depot stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	The Home Depot, Inc. (NYSE: HD)
Amount:	$5 million
Maturity:	Aug. 27, 2008
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Home Depot stock falls below the protection price of $23.81, 70% of the initial price, and finishes below the initial price, in which case 29.394 shares of Home Depot stock.
Initial price:	$34.02
Protection price:	$23.81, 70% of $34.02
Exchange ratio:	29.394
Pricing date:	Aug. 23
Settlement date:	Sept. 7
Agent:	Barclays Capital
Fees:	2.9%

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