Barclays plans to price capped market plus notes tied to Brent crude

By Toni Weeks

San Diego, May 1 - Barclays Bank plc plans to price 0% capped market plus notes due Nov. 8, 2012 linked to Brent crude futures contracts, according to an FWP filing with the Securities and Exchange Commission.

If the price of Brent crude is less than the barrier level - 85% of the initial price - on the final valuation date, the payout at maturity will be par plus the Brent crude return, with full exposure to losses.

Otherwise, investors will receive par plus the greater of the Brent crude return and a contingent minimum return of 6.35%, subject to a maximum return of 8%.

The notes (Cusip: 06738K4N8) will price May 4 and settle May 9.

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

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