Barclays plans to price capped market plus notes linked to gold

By Toni Weeks

San Diego, Aug. 2 - Barclays Bank plc plans to price 0% capped market plus notes due Aug. 16, 2012 linked to the spot price of gold, according to an FWP filing with the Securities and Exchange Commission.

If the price of gold is less than or equal to the barrier level - 90% of the initial price - on the final valuation date, the payout at maturity will be par plus the gold return.

Otherwise, investors will receive par plus the greater of the gold return and a contingent minimum return of 8.02%, subject to a maximum return of at least 10%. The exact terms will be set at pricing.

The notes (Cusip: 06738KQY0) are expected to price Aug. 5 and settle Aug. 10.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will be the agents.

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