New Issue: Barclays prices $8.87 million return enhanced notes linked to S&P 500 via JPMorgan

By Susanna Moon

Chicago, March 24 - Barclays Bank plc priced $8.87 million of 0% return enhanced notes due April 3, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

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

The payout at maturity will be par plus triple any gain on the index, capped at $1,232.50 per $1,000 principal amount. Investors will be fully exposed to any index decline.

The final index level will be arithmetic average of the index's closing levels on the five trading days ending on March 31, 2009.

Issuer:	Barclays Bank plc
Issue:	Return enhanced notes
Underlying index:	S&P 500
Amount:	$8,869,000
Maturity:	April 3, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus triple any index gain, capped at maximum return of 23.25%; exposure to any losses
Initial index level:	1,293.37
Final index level:	Average of the index's closing levels on the five trading days ending March 31, 2009
Pricing date:	March 20
Settlement date:	March 26
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
Fees:	1%

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