Barclays amends terms for buffered enhanced notes tied to commodities

By Toni Weeks

San Diego, March 17 - Barclays Bank plc amended the terms for its planned offering of 0% buffered return enhanced notes due Sept. 25, 2012 linked to a basket of commodities, according to an FWP with the Securities and Exchange Commission.

The basket includes Brent crude, corn, palladium and copper, each weighted at 25%.

The payout at maturity will now be par plus 1.25 times the basket return, subject to a maximum return of 25%. Investors will receive par if the basket declines by 30% or less and will fully share in losses if the basket declines more than 30%.

Previously, the payout was to be par plus 1.365 times the return with a maximum gain of 27.3%.

The notes (Cusip: 06738KEN7) are still expected to price on March 18 and settle on March 25.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the lead agents with Barclays Capital Inc.

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