New Issue: Barclays prices $5 million 10% notes linked to worst-performing stock in basket

By Angela McDaniels

Seattle, Feb. 13 - Barclays Bank plc priced a $5 million offering of 10% reverse convertible notes due Feb. 21, 2008 linked to the shares of Halliburton Co., Schlumberger NV and Transocean Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless any basket stock falls below its protection price - 60% of its initial share price - during the life of the notes and any stock finishes below its initial share price, in which case the payout will be par minus the decline in the share price of the worst-performing stock.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stocks:	Halliburton Co., Schlumberger NV and Transocean Inc.
Amount:	$5 million
Maturity:	Feb. 21, 2008
Coupon:	10%, payable monthly
Price:	Par of $100,000
Payout at maturity:	If any basket stock hits its protection price during the life of the notes and any basket stock finishes below its initial share price, par minus the decline in the worst-performing stock; otherwise, par
Initial share prices:	$29.73 for Halliburton, $63.60 for Schlumberger, $76.55 for Transocean
Protection prices:	$17.84 for Halliburton, $38.16 for Schlumberger, $45.93 for Transocean; 60% of initial share price
Pricing date:	Feb. 12
Settlement date:	Feb. 21
Agent:	Barclays Capital Inc.
Agent fees:	None

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