New Issue: Barclays prices $1.5 million 13% reverse convertibles linked to Home Depot

New York, July 30 - Barclays Bank plc priced $1.5 million of 13% reverse convertible notes due Jan. 30, 2009 linked to Home Depot, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Home Depot shares fall below the protection price of $17.37, 75% of the initial price of $23.16, during the life of the notes and finish below the initial price in which case the payout will be 43.177893 shares of Home Depot stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Home Depot, Inc. (Symbol: HD)
Amount:	$1.5 million
Maturity:	Jan. 30, 2009
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Home Depot shares fall below the protection price of $17.37, 75% of the initial price, and finish below the initial price, in which case 43.177893 shares of Home Depot stock
Initial price:	$23.16
Protection price:	$17.37, 75% of $23.16
Exchange ratio:	43.177893
Pricing date:	July 28
Settlement date:	July 30
Agent:	Barclays Capital
Fees:	1.625%

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