New Issue: Barclays prices $19.15 million buffered return enhanced notes on commodities via JPMorgan

By Toni Weeks

San Diego, March 14 - Barclays Bank plc priced $19.15 million of 0% buffered return enhanced notes due Sept. 14, 2012 linked to a basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the lead agents with Barclays Capital Inc.

The basket includes Brent crude oil, corn, palladium and copper, each weighted at 25%.

The payout at maturity will be par plus 1.28 times any basket gain, subject to a maximum return of 25.6%. Investors will receive par if the basket declines by 30% or less and will fully share in losses if the basket declines by more than 30%.

Issuer:	Barclays Bank plc
Issue:	Buffered return enhanced notes
Underlying basket:	Brent crude oil, corn, palladium and copper, each with a 25% weight
Amount:	$19,145,000
Maturity:	Sept. 14, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.28 times basket gain, subject to a maximum return of 25.6%; par if the basket declines by 30% or less; full exposure to losses if basket declines by more than 30%
Initial prices:	$113.84 for Brent crude oil, $6.6425 for corn, $754.00 for palladium, $9,048.00 for copper
Pricing date:	March 11
Settlement date:	March 16
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC (leads); Barclays Capital Inc.
Fees:	1.5%
Cusip:	06738KEE7

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