Barclays plans to price one-year notes linked to corn via JPMorgan

By Toni Weeks

San Diego, June 13 - Barclays Bank plc plans to price 0% notes due June 26, 2012 linked to the price of a corn futures contract, according to an FWP filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will act as agents.

The payout at maturity will be par plus 1.77 times the commodity return, subject to a maximum return of at least 14.16% that will be set at pricing.

Investors will receive par if the price of the corn futures contract falls by up to 25% and will be fully exposed to losses if the price declines beyond 25%.

The notes (Cusip: 06738KTM3) are expected to price June 17 and settle June 21.

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