New Issue: Barclays prices $7.01 million buffered digital plus notes on palladium

By Susanna Moon

Chicago, May 20 - Barclays Bank plc priced $7.01 million of 0% buffered digital plus notes due April 2, 2012 linked to palladium, according to a 424B2 filing with the Securities and Exchange Commission.

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

If the price of palladium rises, the payout at maturity will be par plus any gain with a contingent minimum return of 6% and a maximum return of 12.5%.

Investors will receive par if the price of palladium falls by up to 15% and will lose 1.176% per 1% decline beyond 15%.

Issuer:	Barclays Bank plc
Issue:	Buffered digital plus notes
Underlying commodity:	Palladium
Amount:	$7.01 million
Maturity:	April 2, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If palladium gains, par plus the return, capped at 12.5%, floor of 6%; 1.176% loss per 1% drop beyond 15%
Initial palladium price:	$730
Pricing date:	May 18
Settlement date:	May 23
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	06738KKT7

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