Barclays to price capped market plus notes linked to S&P 500 index

By Angela McDaniels

Tacoma, Wash., Nov. 16 - Barclays Bank plc plans to price 0% capped market plus notes due June 1, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes below the barrier level - 75% of the initial level - during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the index return, subject to a minimum return of 6.2%.

In each case, the return will be subject to a cap of at least 30% that will be set at pricing.

The notes (Cusip 06740PN51) are expected to price Nov. 19 and settle Nov. 24.

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

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