Barclays plans 0% buffered return enhanced notes linked to gold via JPMorgan

By E. Janene Geiss

Philadelphia, March 30 - Barclays Bank plc plans to price 0% buffered return enhanced notes due April 8, 2010 linked to the performance of gold, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any gain in the price of gold, up to a maximum return of at least 21%. The exact cap will be set at pricing.

Investors will receive par if the price falls by up to 15% and will lose 1% for each 1% decline beyond 15%.

The notes are expected to price April 1 and settle April 6.

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

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