Barclays plans capped market plus notes tied to palladium via JPMorgan

By Marisa Wong

Madison, Wis., March 21 - Barclays Bank plc plans to price 0% capped market plus notes due April 11, 2012 linked to the performance of palladium, according to an FWP filing with the Securities and Exchange Commission.

If the final price of palladium is less than 80% of the initial price, the payout at maturity will be par plus the palladium return.

Otherwise, investors will receive par plus the greater of the palladium return and 8.15%, subject to a maximum return of at least 20% that will be set at pricing.

The notes (Cusip: 06738KFK2) are expected to price March 25 and settle April 1.

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

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