Barclays to price 0% buffered return enhanced notes linked to S&P 500

By Jennifer Chiou

New York, Dec. 21 - Barclays Bank plc plans to price an issue of 0% buffered return enhanced notes due Jan. 27, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The pricing date is expected to be Dec. 22, with settlement on Dec. 28.

The payout at maturity will be par plus twice any positive return on the index up to a maximum of 24%, with the exact level of the cap to be set at pricing. Investors will receive par if the index loses up to 15%. Investors will share in losses beyond 15% at a rate of 1.17647% per 1% decline.

Barclays Capital will be the agent.

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