Barclays to price Knock-Out Buffered Super Track Notes linked to gold

By Angela McDaniels

Tacoma, Wash., May 7 - Barclays Bank plc plans to price 0% Knock-Out Buffered Super Track Notes due May 28, 2010 linked to the performance of gold, according to an FWP filing with the Securities and Exchange Commission.

If the price of gold closes above the knock-out barrier on any day during the life of the notes, the payout at maturity will be par plus the knock-out rebate of 3%. The barrier is expected to be 130% to 140% of the initial price and will be set at pricing.

If the price of gold remains at or below the knock-out barrier, the payout will be:

• Par plus the gain if the final price of gold is greater than the initial price;

• Par if the price of gold declines by 15% or less; or

• Par minus 1% for each 1% that the price declines beyond 15%.

The notes will price May 26 and settle May 29.

Barclays Capital Inc. is the agent.

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