Barclays plans market plus notes with 80% barrier, 15% cap on S&P 500

By Susanna Moon

Chicago, Aug. 22 - Barclays Bank plc plans to price 0% capped market plus notes due Sept. 11, 2013 linked to S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above the 80% barrier level each day during the life of the notes, the payout at maturity will be par plus the greater of any gain in the index up to a maximum return of at least 15% and the contingent minimum return of 7.65%.

Otherwise, investors will be exposed to all losses, with any gains capped at 115% of par.

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

The notes will price on Aug. 24 and settle on Aug. 29.

The Cusip number is 06741JN70.

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