New Issue: Barclays prices $4.39 million buffered notes tied to corn via JPMorgan

By Toni Weeks

San Diego, June 20 - Barclays Bank plc priced $4.39 million of buffered notes due June 26, 2012 linked to the price of a corn futures contract, according to a 424B2 filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA and JPMorgan Securities LLC will be the agents.

If the commodity return positive, the payout at maturity will be par plus 1.77 times the commodity return, subject to a maximum return of 14.16%.

Investors will receive par at maturity if the commodity falls by up to 25% and will lose 1% for every 1% decline from the initial price if the commodity declines by more than 25%.

Issuer:	Barclays Bank plc
Issue:	Buffered notes
Underlying commodity:	Corn futures contract
Amount:	$4,388,000
Maturity:	June 26, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If return is positive, par plus 1.77 times commodity return, subject to maximum return of 14.16%; par if price of corn falls by up to 25%; full exposure to losses if price declines more than 25%
Initial price:	685.75 cents per bushel
Pricing date:	June 17
Settlement date:	June 21
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	06738KTM3

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