Barclays plans 0% capped leveraged notes linked to S&P 500 via Merrill

By Susanna Moon

Chicago, Oct. 13 - Barclays Bank plc plans to price zero-coupon Capped Leveraged Index Return Notes due October 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

Bank of America Merrill Lynch is the agent.

The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of $12.60 to $13.00 per note. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.

The notes are expected to price and settle in November.

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