New Issue: Barclays prices $1 million 9% reverse convertibles linked to Western Refining

New York, May 13 - Barclays Bank plc priced $1 million of 9% reverse convertible notes due Aug. 15, 2013 linked to Western Refining, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Western Refining shares fall below the protection price of $20.95, 69.69% of the initial price of $30.06, during the life of the notes and finish below the initial price in which case the payout will be 33.2668 shares of Western Refining stock.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Western Refining, Inc. (Symbol: WNR)
Amount:	$1 million
Maturity:	Aug. 15, 2013
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Western Refining shares fall below the protection price of $20.95, 69.69% of the initial price, and finish below the initial price, in which case 33.2668 shares of Western Refining stock
Initial price:	$30.06
Protection price:	$20.95, 69.69% of $30.06
Exchange ratio:	33.2668
Pricing date:	May 10
Settlement date:	May 15
Agent:	Barclays Capital
Cusip:	06741J2A6

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