Barclays plans two-year barrier digital notes linked to Brent crude

By Toni Weeks

San Diego, April 4 - Barclays Bank plc plans to price 0% notes due April 30, 2014 linked to the performance of the Brent crude futures contract, according to a 424B2 filing with the Securities and Exchange Commission.

If the price of Brent crude finishes at or above the initial level, the payout at maturity will be par plus a digital return of 17.5% to 20.5%. The exact payment will be set at pricing.

If the final price is less than the initial price and greater than the barrier level, which is 80% of the initial price, the payout will be par.

Otherwise, investors will lose 1% for every 1% decline beyond the 20% buffer.

Barclays Capital Inc. is the agent.

The notes (Cusip: 06738K2N0) will price April 25 and settle April 30.

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