New Issue: Barclays prices $4.79 million 9% autocallable reverse convertibles tied to Valero Energy

By Susanna Moon

Chicago, Nov. 15 - Barclays Bank plc priced $4.79 million of 9% single observation callable reverse convertible notes due Oct. 30, 2013 linked to Valero Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par if the stock closes above the initial level on any quarterly call date.

The payout at maturity will be par in cash unless Valero Energy shares fall below the protection price - 70% of the initial level - in which case the payout will be a number of Valero Energy shares equal to $1,000 divided by the initial level or the cash equivalent.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Single observation callable reverse convertible notes
Underlying stock:	Valero Energy Corp. (Symbol: VLO)
Amount:	$4,785,000
Maturity:	Nov. 18, 2013
Coupon:	9%, payable monthly
Price:	Par
Call:	If Valero shares close above initial level on any quarterly call date
Payout at maturity:	Par in cash unless Valero Energy shares finish below the protection level, in which case 34.65 Valero Energy shares
Initial price:	$28.86
Protection price:	$20.20, 70% of initial level
Pricing date:	Nov. 14
Settlement date:	Nov. 19
Agent:	Barclays
Fees:	2.75%
Cusip:	06741JUS6

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