Barclays plans to price performance securities linked to S&P via UBS

By E. Janene Geiss

Philadelphia, April 3 - Barclays Bank plc plans to price 0% performance securities with contingent return due April 29, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.

If the final index never declines below the trigger amount - 75% of the initial level - during the life of the securities, the payout at maturity will be par of $10 plus the greater of the final index return or a contingent return of 17.5% to 22.5% with the exact contingent return determined at pricing.

If the final index does fall below the trigger level, the payout will be par plus the index return. There will be no contingent return and investors will be exposed to any decline in the index.

The notes are expected to price April 25 and settle April 30.

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