Barclays to price notes linked to Industrial Select SPDR fund

By Angela McDaniels

Tacoma, Wash., Feb. 28 - Barclays Bank plc plans to price 0% notes due Sept. 9, 2013 linked to the Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the exchange-traded fund's closing share price remains at or above the barrier level throughout the life of the notes, the payout at maturity will be par plus the ETF's return, subject to a minimum payout of par. The barrier level will be 79% of the initial share price.

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, which could be positive or negative.

The notes (Cusip: 06738KU90) are expected to price March 2 and settle March 7.

Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.

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