Barclays plans 0% buffered return enhanced notes linked to S&P GSCI crude oil index via JPMorgan

By E. Janene Geiss

Philadelphia, March 17 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Sept. 29, 2010 linked to the S&P GSCI Crude Oil Excess Return Index, 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 basket level is at least the initial level, the payout at maturity will be par plus 1.6 to 1.7 times any index gain, capped at a payout equal to 56% to 59.5% of par.

The exact upside leverage factor and cap will be set at pricing.

If the basket declines by up to 15%, the payout will be par. Investors will lose 1% for each 1% the index declines beyond 15%.

The notes are expected to price March 19 and settle March 24.

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