Barclays plans buffered return enhanced notes linked to S&P 500 via JPMorgan

By E. Janene Geiss

Philadelphia, Sept. 22 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Oct. 14, 2010 linked to the S&P 500 index, according to an FWP 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 at least double any gain in the index, up to a maximum return of at least 15.7%. The exact participation rate and cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

The final index level will be the arithmetic average of the index's closing levels on the five consecutive trading days ending Oct. 8, 2010.

The notes are expected to price on Sept. 25 and settle on Sept. 30.

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