Barclays to price capped market plus notes linked to palladium

By Toni Weeks

San Diego, May 8 - Barclays Bank plc plans to price 0% capped market plus notes due May 23, 2013 linked to the price of palladium, according to an FWP filing with the Securities and Exchange Commission.

If the price of palladium is less than the barrier level - 80% of the initial price - on the final valuation date, the payout at maturity will be par plus the palladium return, with full exposure to losses.

Otherwise, investors will receive par plus the greater of the palladium return and a contingent minimum return of 4.95%, subject to a maximum return of at least 17%. The exact maximum return will be set at pricing.

The notes (Cusip: 06738K4Y4) are expected to price May 11 and settle May 18.

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

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