Barclays plans to price notes linked to Technology Select Sector SPDR

By Toni Weeks

San Diego, Feb. 22 - Barclays Bank plc plans to price 0% notes due Sept. 3, 2013 linked to the Technology Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

If the exchange-traded fund closes at or above the barrier level - 74% of the initial share price - on any day during the life of the notes, the payout at maturity will be par plus the ETF's return, subject to a minimum payout of par.

If the ETF's shares close below the barrier level during the life of the notes, the payout at maturity will be par plus the ETF's return, with full exposure to losses.

The notes (Cusip: 06738KT27) are expected to price Feb. 24 and settle Feb. 29.

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

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