Barclays plans capped market plus notes linked to lira via JPMorgan

By Susanna Moon

Chicago, Feb. 4 - Barclays Bank plc plans to price 0% capped market plus notes due Feb. 23, 2012 based on the performance of the Turkish lira relative to the dollar, according to an FWP with the Securities and Exchange Commission.

If the exchange rate stays at or below the barrier level - 115% of the initial rate - during the life of the notes, the payout at maturity will be par plus any gain, up to a maximum return of 15% and subject to a minimum return of 13%.

If the exchange rate ever rises above the barrier, the payout will be par plus the return, up to a cap of 15%. Investors will be exposed to any losses.

The notes (Cusip: 06738KAV3) are expected to price on Feb. 11 and settle on Feb. 16.

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

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