Barclays plans 0% notes linked to three indexes via JPMorgan

By Laura Lutz

Des Moines, April 9 - Barclays Bank plc plans to price 0% notes due April 24, 2009 linked to the buffered, enhanced returns of three indexes, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of the Dow Jones Euro Stoxx 50 index with a 55% weight, the FTSE 100 index with a 25% weight and the Topix index with a 20% weight.

The payout at maturity will be equal to the sum of the three component payouts, each weighted as given above.

For each index with a positive return, the component payout will be equal to par plus 200% of any gain on that index, capped at a maximum component payout.

The maximum component payouts will be 114.4% for the Euro Stoxx 50, 112.9% for the FTSE 100 and 116.5% for the Topix.

For each index that declines by up to 10%, the component payout will be par. The component payout will be decreased by 1.1111% for each 1% that the index declines beyond 10%.

The final level of each index will be equal to the average of its closing levels on the five trading days ending April 21, 2009.

Taking into account the maximum component returns and the relative weights, the maximum payout at maturity is 114.44% of par. There is no minimum payout.

The notes are expected to price on April 11 and settle on April 16.

Barclay Capital Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. will act as placement agents.

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