Barclays lowers maximum return range for PLUS linked to S&P 500 index

By Angela McDaniels

Tacoma, Wash., Aug. 26 - Barclays Bank plc decreased the maximum payout range for its upcoming 0% Performance Leveraged Upside Securities due Oct. 27, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The maximum return is now expected to be 16% to 20%, with the exact cap to be set at pricing. It was previously expected to be 17% to 21%.

The payout at maturity will be par of $10 plus triple any index gain, subject to the maximum return. Investors will be fully exposed to any index decline.

The notes are expected to price Sept. 23 and settle Sept. 30.

Morgan Stanley Smith Barney LLC and Barclays Capital Inc. are the agents.

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