New Issue: Barclays sells $2 million 11.5% exchangeables linked to ImClone

By Angela McDaniels

Seattle, Jan. 27 - Barclays Bank plc priced $2 million of one-year 11.5% exchangeable notes linked to ImClone Systems Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Issuer:	Barclays Bank plc
Issue:	Exchangeable medium-term series A notes
Underlying stock:	ImClone Systems Inc.
Amount:	$2 million
Maturity:	Jan. 31, 2007
Coupon:	11.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless ImClone Systems stock finishes below the initial price of $35.76 and falls below the protection price of $25.03 between Jan. 26 and Jan. 26, 2007, in which case $1,000/$35.76 shares per $1,000 principal amount.
Initial price:	$35.76
Protection price:	$25.03, 70% of initial price
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Underwriter:	Barclays Capital

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