New Issue: Barclays prices $1 million 8% reverse convertibles linked to Mosaic

New York, April 29 - Barclays Bank plc priced $1 million of 8% reverse convertible notes due April 29, 2011 linked to Mosaic Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Mosaic shares fall below the protection price of $40.46, 80% of the initial price of $50.58, during the life of the notes and finish below the initial price in which case the payout will be 19.77066 shares of Mosaic stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Mosaic Co. (Symbol: MOS)
Amount:	$1 million
Maturity:	April 29, 2011
Coupon:	8%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Mosaic shares fall below the protection price of $40.46, 80% of the initial price, and finish below the initial price, in which case 19.77066 shares of Mosaic stock
Initial price:	$50.58
Protection price:	$40.46, 80% of $50.58
Exchange ratio:	19.77066
Pricing date:	April 27
Settlement date:	April 30
Agent:	Barclays Capital
Fees:	2.5%
Cusip:	06740LLP8

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