Barclays plans principal-protected notes tied to gold with 18.25% cap

By Marisa Wong

Madison, Wis., March 26 - Barclays Bank plc plans to price 0% notes due April 3, 2014 linked to the performance of gold, according to an FWP filing with the Securities and Exchange Commission.

If the final price of gold is at least 90% of the initial price, the payout at maturity will be par plus the gold return, subject to a maximum return of at least 18.25%. The exact cap will be set at pricing.

Investors will receive $900 per $1,000 principal amount of notes if the price of gold declines by 10% or more.

The notes (Cusip: 06738K2E0) will price on March 30 and settle on April 4.

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

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