Barclays to price principal-protected notes linked to S&P 500

By Susanna Moon

Chicago, May 27 - Barclays Bank plc plans to price 0% principal-protected notes due April 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index remains above the lower barrier and below the upper barrier throughout the life of the notes, the payout at maturity will be par plus the absolute value of the index return. Otherwise, the payout will be par.

The lower barrier will be 88.75% of the initial level, and the upper barrier will be 111.25% of the initial level.

The notes are expected to price in June and settle three days later.

Barclays Capital Inc. will be the agent.

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