New Issue: Barclay prices $12.43 million buffered return enhanced notes linked to S&P GSCI Agricultural

By Angela McDaniels

Tacoma, Wash., May 5 - Barclays Bank plc priced $12.43 million of 0% buffered return enhanced notes due May 13, 2011 linked to the S&P GSCI Agricultural Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.

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

The payout at maturity will be par plus 1.79 times any index gain, subject to a maximum return of 44.75%. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index declines beyond 20%.

Issuer:	Barclays Bank plc
Issue:	Buffered return enhanced notes
Underlying index:	S&P GSCI Agricultural Excess Return index
Amount:	$12,426,000
Maturity:	May 13, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.79 times any index gain, up to maximum return of 44.75%; par if index falls by 20% or less; 1.25% loss for every 1% index decline beyond 20%
Initial index level:	57.85279
Final index level:	Average of index's closing levels on the five trading days ending May 6, 2011
Pricing date:	May 1
Settlement date:	May 8
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
Fees:	1.5%

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