New Issue: Barclays sells $10 million 11.5% exchangeables linked to U.S. Steel

By Jennifer Chiou

New York, Aug. 30 - Barclays Bank plc priced $10 million of one-year 11.5% exchangeable notes linked to United States Steel Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

Issuer:	Barclays Bank plc
Issue:	Exchangeable senior medium-term series A notes
Underlying stock:	United States Steel Corp.
Amount:	$10 million
Maturity:	Aug. 31, 2006
Coupon:	11.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless United States Steel stock closes lower than initial price of $40.10 and below the protection level of $28.07 between Aug. 26, 2005 and Aug. 28, 2006, otherwise $1,000/$40.10 shares of United States Steel stock
Protection price:	$28.07, 70% of initial price
Initial price:	$40.10
Pricing date:	Aug. 26
Settlement date:	Aug. 31
Lead manager:	Barclays Capital

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