Barclays to price optimal entry notes linked to gold via JPMorgan

By E. Janene Geiss

Philadelphia, Dec. 2 - Barclays Bank plc plans to price 0% optimal entry notes due Dec. 13, 2010 linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.

J.P. Morgan Securities Inc. and Barclays Capital 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 1.36 times the gain, subject to a maximum return of at least 18.36%. 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 Jan. 4.

The final price of gold will be the arithmetic average of its closing price on the five consecutive trading days ending Dec. 6, 2010.

The notes are expected to price Dec. 4 and settle Dec. 11.

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