New Issue: Barclays prices $2.5 million 11% reverse convertibles linked to Sunoco

New York, Dec. 17 - Barclays Bank plc priced $2.5 million of 11% reverse convertible notes due June 18, 2008 linked to Sunoco, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Sunoco stock falls below the protection price, 70% of the initial price of $67.80, during the life of the notes and finishes below the initial price in which case the payout will be Sunoco shares equal to $1,000 principal amount divided by the initial price.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Sunoco, Inc. (Symbol: SUN)
Amount:	$2.5 million
Maturity:	June 18, 2008
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Sunoco stock falls below the protection price, 70% of the initial price, and finishes below the initial price, in which case Sunoco shares equal to $1,000 principal amount divided by the initial price.
Initial price:	$67.80
Pricing date:	Dec. 14
Settlement date:	Dec. 20
Agent:	Barclays Capital
Agent fee:	1.625%

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