Barclays plans buffered return enhanced notes linked to Brent crude

By Susanna Moon

Chicago, July 26 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Feb. 2, 2012 linked to the Brent crude futures contract, according to an FWP with the Securities and Exchange Commission.

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

The payout at maturity will be par plus 5.75% for each day that the price of Brent crude is within the barrier range, which is 85% of the initial price at the lower barrier to 117% of the initial price at the upper barrier.

Investors will receive par if the price of Brent crude falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.

The notes will price on July 29 and settle on Aug. 3.

The Cusip is 06738KQH7.

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