Barclays to price optimal entry notes linked to gold via JPMorgan

By Angela McDaniels

Tacoma, Wash., Nov. 18 - Barclays Bank plc plans to price 0% optimal entry notes due Dec. 1, 2010 linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.

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

If the final price of gold is greater than the initial price, the payout at maturity will be par plus at least 1.2 times the gain, subject to a maximum return of at least 16.2%. The exact upside leverage factor and cap will be set at pricing.

If the final price of gold is less than the initial price, investors will be exposed to the decline.

The initial price of gold will be the lowest settlement price of gold during the observation period, which will run from the pricing date to Dec. 21.

The notes are expected to price Nov. 20 and settle Nov. 30.

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