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Published on 7/30/2008 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $1 million 17.5% reverse convertibles linked to Massey Energy

New York, July 30 - Barclays Bank plc priced $1 million of 17.5% reverse convertible notes due Jan. 30, 2009 linked to Massey Energy Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Massey Energy shares fall below the protection price of $41.69, 60% of the initial price of $69.49, during the life of the notes and finish below the initial price in which case the payout will be 14.39056 shares of Massey Energy stock.

Barclays Capital is the agent.

Issuer:Barclays Bank plc
Issue:Reverse convertible notes
Underlying stock:Massey Energy Co. (Symbol: MEE)
Amount:$1 million
Maturity:Jan. 30, 2009
Coupon:17.5%, payable monthly
Price:Par
Payout at maturity:Par in cash unless Massey Energy shares fall below the protection price of $41.69, 60% of the initial price, and finish below the initial price, in which case 14.39056 shares of Massey Energy stock
Initial price:$69.49
Protection price:$41.69, 60% of $69.49
Exchange ratio:14.39056
Pricing date:July 28
Settlement date:July 30
Agent:Barclays Capital
Fees:1.625%

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