Barclays plans leveraged contingent barrier enhanced notes tied to oil

By Marisa Wong

Madison, Wis., Oct. 2 - Barclays Bank plc plans to price 0% leveraged contingent barrier enhanced notes due Oct. 17, 2013 linked to Brent crude oil, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any gain in the price of Brent crude oil, up to a maximum return of at least 27.6%. The exact cap will be set at pricing.

Investors will receive par if the price falls by up to 20% and will be fully exposed to losses if the price falls below the 80% barrier level.

Barclays is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.

The notes will price on Oct. 5 and settle on Oct. 11.

The Cusip number is 06741THW0.

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