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Barclays plans capped market plus notes tied to gold via JPMorgan
By Jennifer Chiou
New York, Jan. 5 - Barclays Bank plc plans to price 0% capped market plus notes due Jan. 23, 2012 linked to gold, according to an FWP with the Securities and Exchange Commission.
If the final price of gold is less than 85% of the initial price, the payout at maturity will be par plus the gold return.
Otherwise, investors will receive par plus the greater of the gold return and 5%. The return is subject to a cap of at least 18.1% in either case. The exact cap will be set at pricing.
The notes (Cusip: 06740PZW9) are expected to price on Jan. 7 and settle on Jan. 14.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
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