New Issue: Barclays prices $1.5 million 100% principal protected notes linked to S&P 500

By E. Janene Geiss

Philadelphia, July 2 - Barclays Bank plc priced $1.5 million of 100% principal protected notes due July 2, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index stays within 13% either side of its initial level, the notes will pay par multiplied by a conditional coupon of 13%. Investors will receive at least par.

Barclays Capital Inc. is the underwriter.

Issuer:	Barclays Bank plc
Issue:	100% principal protected notes
Underlying index:	S&P 500 index
Amount:	$1.5 million
Maturity:	July 2, 2009
Conditional coupon:	13%
Price:	Par
Payout at maturity:	Par plus 13% if the index remains within 13% of its initial level; floor of par
Initial level:	1,280
Lower barrier:	1,113.60, initial level times 87%
Upper barrier:	1,446.40, initial level times 113%
Pricing date:	June 30
Settlement date:	July 3
Underwriter:	Barclays Capital Inc.
Fees:	1.5%

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