Barclays plans to price autocallable knock-out buffer notes on Russell via JPMorgan

By E. Janene Geiss

Philadelphia, Oct. 20 - Barclays Bank plc plans to price 0% autocallable index knock-out buffer notes due July 29, 2010 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

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

If the index closes at or above 107% of its initial level on any review date, the notes will be automatically called at 107% of par. The review dates are the first business day of each week.

If the notes are not called and the index declines by more than 20% during the life of the notes, the payout at maturity will be par plus the index return. Otherwise, the payout will be par plus the index return, subject to a minimum return of 2%.

In both cases, the payout at maturity will be subject to a maximum return of 7%.

The notes are expected to price on Oct. 22 and settle on Oct. 27.

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