New Issue: Barclays prices another $10 million 13.75% reverse convertibles linked to Zions

By Jennifer Chiou

New York, Feb. 18 - Barclays Bank plc priced $10 million more of 13.75% reverse convertible notes due July 29, 2010 linked to Zions Bancorp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The original $2 million was issued on Jan. 29.

The payout at maturity will be par in cash unless Zions shares fall below the protection price, 75% of the initial price of $19.08, during the life of the notes and finish below the initial price in which case the payout will be Zions shares equal to $1,000 principal amount divided by the initial price.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Zions Bancorp. (Symbol: ZION)
Amount:	$12 million (up from $2 million)
Maturity:	July 29, 2010
Coupon:	13.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Zions shares fall below the protection price, 75% of the initial price, and finish below the initial price, in which case Zions shares equal to $1,000 principal amount divided by the initial price
Initial price:	$19.08
Protection price:	$14.31, 75% of $19.08
Pricing date:	Jan. 26 for original $2 million; Feb. 17 for add-on
Settlement date:	Jan. 29 for original $2 million; Feb. 18 for add-on
Agent:	Barclays Capital
Fees:	1.625%
Cusip:	06740JMJ6

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