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Barclays plans 0% buffered return enhanced notes linked to Euro Stoxx 50 via JPMorgan
By Laura Lutz
Des Moines, May 4 - Barclays Bank plc plans to sell 0% buffered return enhanced notes due May 23, 2008 linked to the Dow Jones Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the placement agents.
The payout at maturity will be par plus double any positive return on the index up to a maximum return of 15.6%. If the index declines up to 10%, investors will receive par. Investors will lose 1.1111% for every 1% the index declines beyond 10%.
The return on the index will be calculated using the average of the index's level on the five trading days ending on May 20, 2008.
The notes are expected to price May 11 and settle May 16.
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