Barclays plans capped market plus notes tied to S&P GSCI via JPMorgan

By Marisa Wong

Milwaukee, April 13 - Barclays Bank plc plans to price 0% capped market plus notes due May 9, 2011 linked to the S&P GSCI Excess Return index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes below the barrier level - 80% of the initial level - on any day 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 greater of the index return and 5%.

In either case, the payout will be subject to a maximum return of 13.85%.

The notes are expected to price April 16 and settle April 23.

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

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