Barclays to price knock-out buffered notes linked to Siemens

By Angela McDaniels

Tacoma, Wash., Oct. 19 - Barclays Bank plc plans to price 0% knock-out buffered notes due April 29, 2013 linked to the American Depositary Shares of Siemens AG, according to an FWP filing with the Securities and Exchange Commission.

If the final price of Siemens ADSs is 70% or more of the initial price, the payout at maturity will be par plus the greater of the share return and 5.5%. Otherwise, investors will be fully exposed to the decline in the ADS price from the initial price.

The notes (Cusip: 06738KYB1) are expected to price Oct. 21 and settle Oct. 26.

Barclays Capital Inc. is the agent with J.P. Morgan Securities Inc. as dealer.

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