Barclays plans to price notes tied to basket of eight commodities

By Toni Weeks

San Diego, June 7 - Barclays Bank plc plans to price notes due June 29, 2015 linked to a basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket components are Brent Crude oil, gasoline RBOB, lead, nickel, gold, corn, cotton and sugar.

The notes will pay a coupon each year equal to the sum of the weighted component returns of the basket commodities, subject to a floor of zero. If a basket commodity's return is positive, its component return will be fixed at 8% to 10%. The exact rate will be set at pricing. If a basket commodity's return is negative, its component return will be the greater of the commodity return and negative 25%.

The payout at maturity will be par plus the final coupon payment, if any.

The notes (Cusip: 06738KJZ5) are expected to price on June 24 and settle June 30.

Barclays Capital Inc. will be the agent.

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