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Barclays plans capped market plus notes linked to S&P GSCI Crude Oil
By Jennifer Chiou
New York, Jan. 24 - Barclays Bank plc plans to price 0% capped market plus notes due Feb. 14, 2012 linked to the S&P GSCI Crude Oil Index Excess Return, according to an FWP with the Securities and Exchange Commission.
If the index falls to or below 80% of the initial level on any day during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the index return and 10%.
In each case, the payout will be subject to a maximum return of at least 24.55% that will be set at pricing.
The notes (Cusip: 06738KAA9) are expected to price on Jan. 28 and settle on Feb. 4.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
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