Barclays plans Knock-Out Buffered Super Track Notes linked to Peabody

By E. Janene Geiss

Philadelphia, May 1 - Barclays Bank plc plans to price 0% Knock-Out Buffered Super Track Notes due May 11, 2010 linked to the common stock of Peabody Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

If Peabody Energy stock closes above the knock-out barrier - 140% of the initial price - on any day during the life of the notes, the payout at maturity will be par plus the knock-out rebate of 15.5%.

If the share price remains at or below the knock-out barrier, investors will receive par plus any gain if the stock finishes above its initial price.

Investors will receive par if the stock falls by up to 20% and will lose 1% for each 1% decline beyond 20%.

The notes will price on May 7 and settle on May 12.

Barclays Capital Inc. is the agent.

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