Barclays plans buffered return enhanced notes on commodities basket

By Toni Weeks

San Diego, Jan. 10 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Jan. 16, 2014 linked to a basket of commodities and a commodity index, according an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of Brent crude, platinum, copper and the S&P GSCI Grains Index Excess Return.

The payout at maturity will be par plus 195% of any basket gain, capped at a return of 29.25%. Investors will receive par for losses up to 20% and will share in losses beyond the buffer at a rate of 1.25% per 1% decline.

The notes (Cusip: 06738KH38) are expected to price Jan. 13 and settle Jan. 19.

Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as distributors.

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