New Issue: Barclays prices $1 million 18% reverse convertibles linked to Rambus

New York, Sept. 29 - Barclays Bank plc priced $1 million of 18% reverse convertible notes due Dec. 31, 2009 linked to Rambus Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Rambus shares fall below the protection price of $10.78, 65% of the initial price of $16.58, during the life of the notes and finish below the initial price in which case the payout will be 60.313631 shares of Rambus stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Rambus Inc. (Symbol: RMBS)
Amount:	$1 million
Maturity:	Dec. 31, 2009
Coupon:	18%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Rambus shares fall below the protection price of $10.78, 65% of the initial price, and finish below the initial price, in which case 60.313631 shares of Rambus stock
Initial price:	$16.58
Protection price:	$10.78, 65% of $16.58
Exchange ratio:	60.313631
Pricing date:	Sept. 25
Settlement date:	Sept. 30
Agent:	Barclays Capital
Fees:	1.375%

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