New Issue: Barclays prices $22.97 million capped leveraged index return notes on S&P 500 via Merrill

By Toni Weeks

San Diego, March 29 - Barclays Bank plc priced $22.97 million of 0% Capped Leveraged Index Return Notes due April 1, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus double any index gain, subject to a maximum payout of $11.828 per note.

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

Merrill Lynch, Pierce, Fenner & Smith Inc. and Barclays Capital Inc. are the agents.

Issuer:	Barclays Bank plc
Issue:	Capped leveraged index return notes
Underlying index:	S&P 500
Amount:	$22,974,400
Maturity:	April 1, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par of $10 plus double any index gain, capped at 18.28%; par if index falls up to 10%, with exposure to losses beyond 10%
Initial level:	1,309.66
Pricing date:	March 24
Settlement date:	April 1
Agents:	Merrill Lynch, Pierce, Fenner & Smith Inc. and Barclays Capital Inc.
Fees:	2%
Cusip:	06741J794

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