Barclays plans principal-protected notes linked to Pimco Total Return Fund

By E. Janene Geiss

Philadelphia, Jan. 30 - Barclays Bank plc plans to price zero-coupon 100% principal-protected notes expected to mature March 7, 2014 linked to the Pimco Total Return Fund, according to an FWP filing with the Securities and Exchange Commission.

The Pimco Total Return Fund is an open-end mutual fund that seeks to achieve its objective by investing under normal circumstances in at least 65% of its total assets in a diversified portfolio of fixed-income instruments of varying maturities, which may be options, futures contracts or swap agreements.

The payout at maturity will be par plus 100% to 120% of any index gain. The exact participation rate will be set at pricing.

Investors will receive at least par.

The final level of the fund will be the arithmetic average of the fund's closing level on the last trading day of February for each year from February 2010 until February 2014.

The notes are expected to price Feb. 24 and settle Feb. 27.

Barclays Capital Inc. is the agent.

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