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Barclays plans capped market plus notes linked to S&P GSCI Crude Oil
By Jennifer Chiou
New York, Aug. 19 - Barclays Bank plc plans to price 0% capped market plus notes due Sept. 28, 2010 linked to the S&P GSCI Crude Oil Index Excess Return, according to an FWP filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and JPMorgan Securities Inc. are the agents.
If the index closes below the barrier level - 70% of the initial level - on any day during the life of the notes, the payout at maturity will be par plus the index return. Otherwise, the payout will be par plus the index return, subject to a minimum return of 9%.
In both cases, the payout will be subject to a maximum return that is expected to be at least 33% and will be set at pricing.
The notes are expected to price on Aug. 21 and settle on Aug. 28.
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