Barclays plans 0% buffered return enhanced notes linked to S&P 500 via JPMorgan

By Jennifer Chiou

New York, Feb. 21 - Barclays Bank plc plans to sell 0% buffered return enhanced notes due March 6, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout at maturity will be par plus double any gain on the index, capped at a maximum payout equal to 115.1% of par.

If the index declines up to 10%, the payout will be par. Investors will lose 1.1111% for every 1% the index declines beyond 10%.

The notes are expected to price on Feb. 22 and settle on Feb. 27.

JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.

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