Barclays to sell 11.5% exchangeables linked to Noble

By Angela McDaniels

Seattle, March 9 - Barclays Bank plc plans to sell an issue of 11.5% exchangeable series A notes due March 16, 2007 linked to Noble Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The settlement date will be March 14.

Payout at maturity will be par unless Noble stock finishes below the initial share price and falls below the protection price, which will be 80% of the initial price, between March 9, 2006 and March 14, 2007.

If the two conditions are met, investors will receive a number of Noble shares equal to the principal amount of notes divided by the initial share price.

Barclays Capital will be the agent for the offering.

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