Barclays plans to price 0% capped market plus notes linked to gold

By Marisa Wong

Madison, Wis., Oct. 18 - Barclays Bank plc plans to price 0% capped market plus notes due Nov. 7, 2011 linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.

If the price of gold falls below the barrier level - 80% of the initial price - during the life of the notes, the payout at maturity will be par plus the gold return, which could be positive or negative. Otherwise, the payout will be par plus the gold return, subject to a minimum return of 5%.

In either case, the return is subject to a cap of at least 24.05% that will be set at pricing.

The notes (Cusip: 06740P2S4) will price on Oct. 22 and settle on Oct. 29.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

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