Barclays plans PLUS due July 2013 linked to S&P 500 index

By Jennifer Chiou

New York, May 2 - Barclays Bank plc plans to price 0% Performance Leveraged Upside Securities due July 3, 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum return of 13.65% to 17.65% that will be set at pricing.

If the index return is negative, investors will share fully in the decline.

The notes (Cusip: 06741L138) are expected to price on May 30.

Barclays Capital Inc. is the underwriter. Distribution will be through Morgan Stanley Smith Barney LLC.

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