Barclays plans Knock-Out Buffered Super Track Notes tied to Chesapeake

By Angela McDaniels

Tacoma, Wash., June 4 - Barclays Bank plc plans to price 0% Knock-Out Buffered Super Track Notes due June 16, 2010 linked to the common stock of Chesapeake Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

If Chesapeake Energy stock closes above the knock-out barrier - 140% of the initial share price - on any day during the life of the notes, the payout at maturity will be par plus 14%.

Otherwise, the payout will be:

• Par plus any share price gain;

• Par if the share price declines by 20% or less; or

• Par minus 1% for every 1% decline beyond 20% or, at Barclays' option, a number of Chesapeake Energy shares with an equivalent value.

The notes are expected to price June 12 and settle June 17.

Barclays Capital Inc. is the agent.

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