Barclays plans to price 0% upside leveraged notes linked to S&P 500

By Toni Weeks

San Diego, April 1 - Barclays Bank plc plans to price 0% notes with upside leverage due April 1, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event occurs if the level of the S&P 500 falls below 90% of its initial level during the life of the notes.

If a knock-in event occurs and the index return is positive, the payout at maturity will be par plus the index return times an upside leverage factor of 184.6% to 194.6%. The exact leverage factor will be set at pricing.

Otherwise, the payout at maturity will be par plus the index return. Investors will be exposed to losses.

The notes (Cusip: 06738KFS5) are expected to price April 15 and settle April 20.

Barclays Capital Inc. is the agent.

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