New Issue: Barclays prices $4.21 million two-year notes tied to commodities basket

By Marisa Wong

Madison, Wis., April 20 - Barclays Bank plc priced $4.21 million of 0% notes due April 23, 2013 linked to a basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes Brent crude oil with a 15% weight; gasoline RBOB, heating oil, copper, nickel and gold, each with a 10% weight; and corn, cotton, soybeans and sugar, each with an 8.75% weight.

The payout at maturity will be par plus 200% of the basket return if the basket gains, subject to a maximum return of 55%.

Investors will be exposed to the decline if the basket falls, subject to a minimum payout of 80% of par.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Notes
Underlying commodities:	Brent crude oil with a 15% weight; gasoline RBOB, heating oil, copper, nickel and gold, each with a 10% weight; and corn, cotton, soybeans and sugar, each with an 8.75% weight
Amount:	$4,205,000
Maturity:	April 23, 2013
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 200% of any basket gain, capped at 55%; exposure to basket decline, with a minimum payout of $800 per note
Initial prices:	$121.61 for Brent crude oil; $3.2528 for gasoline RBOB; $3.1828 for heating oil; $9,356.50 for copper; $26,110 for nickel; $1,493 for gold; $751.75 for corn; $178.16 for cotton; $1,344.25 for soybeans; and $22.79 for sugar
Pricing date:	April 18
Settlement date:	April 21
Agent:	Barclays Capital Inc.
Fees:	1.5%
Cusip:	06738KHN4

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