New Issue: Barclays upsizes 18.5% reverse convertibles linked to SunPower to $18.5 million

By Jennifer Chiou

New York, July 23 - Barclays Bank plc upsized its issue of 18.5% reverse convertible notes due April 29, 2009 linked to SunPower Corp. stock to $18.5 million from $15 million, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless SunPower stock falls below the protection price of $43.15, 50% of the initial price of $86.29, during the life of the notes and finishes below the initial price in which case the payout will be 11.588828 shares of SunPower stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	SunPower Corp. (Symbol: SPWR)
Amount:	$18.5 million, upsized from $15 million
Maturity:	April 29, 2009
Coupon:	18.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless SunPower stock falls below the protection price of $43.15, 50% of the initial price, and finishes below the initial price, in which case 11.588828 shares of SunPower stock
Initial price:	$86.29
Protection price:	$43.15, 50% of $86.29
Exchange ratio:	11.588828
Pricing date:	April 25
Settlement date:	April 30
Upsizing date:	July 23
Agent:	Barclays Capital
Fees:	2.5%

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