New Issue: Barclays upsizes 12% reverse convertibles tied to TRW to $6 million

By Jennifer Chiou

New York, Nov. 16 - Barclays Bank plc priced another $5 million of 12% reverse convertible notes due Oct. 28, 2011 linked to TRW Automotive Holdings Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The total amount of notes now stands at $6 million.

The payout at maturity will be par in cash unless TRW Automotive shares fall below the protection price of $34.35, 75% of the initial price of $45.80, during the life of the notes and finish below the initial price in which case the payout will be 21.834061 shares of TRW Automotive stock.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	TRW Automotive Holdings Corp. (Symbol: TRW)
Amount:	$6 million (up from $1 million)
Maturity:	Oct. 28, 2011
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless TRW Automotive shares fall below the protection price of $34.35, 75% of the initial price, and finish below the initial price, in which case 21.834061 shares of TRW Automotive stock
Initial price:	$45.80
Protection price:	$34.35, 75% of $45.80
Exchange ratio:	21.834061
Pricing date:	Oct. 26
Settlement date:	Oct. 29 (for $1 million); Nov. 17 (for $5 million)
Agent:	Barclays Capital Inc.
Fees:	2.5%
Cusip:	06740P2H8

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