Barclays plans buffered return enhanced notes tied to commodity basket

By Angela McDaniels

Tacoma, Wash., Jan. 17 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Jan. 24, 2014 linked to the performance of a commodity basket, according to an FWP filing with the Securities and Exchange Commission.

The equally weighted basket includes Brent crude oil, platinum, copper and the S&P GSCI Grains Index Excess Return.

The payout at maturity will be par plus 1.9 times any increase in the basket, subject to a maximum return of 28.5%. Investors will receive par if the basket declines by 20% or less and will lose 1.25% for every 1% that the basket declines beyond 20%.

The notes (Cusip: 06738KK26) are expected to price Jan. 20 and settle Jan. 25.

Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.

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