New Issue: Barclays sells $13.02 million PLUS linked to S&P 500 via Morgan Stanley

By Susanna Moon

Chicago, May 27 - Barclay Bank plc priced $13.02 million of 0% Performance Leveraged Upside Securities due June 28, 2011 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

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

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum gain of $11.95 per note.

Investors will be exposed to any index decline.

Issuer:	Barclays Bank plc
Issue:	Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$13,015,100
Maturity:	June 28, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at 19.5%; exposure to any losses
Initial index level:	1,074.03
Pricing date:	May 25
Settlement date:	May 28
Agents:	Morgan Stanley Smith Barney LLC and Barclays Capital Inc.
Fees:	2%
Cusip:	06740L667

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