New issue: Barclays sells one-year capped return enhanced notes linked to S&P 500

By Toni Weeks

San Diego, Jan. 19 - Barclays Bank plc priced $24 million of Return Enhanced Notes due Dec. 30, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive two times any gain in the index at maturity, capped at a gain of 20%, and will be fully exposed to any index decline.

The ending index level will be the average of the index's closing level on each of Dec. 20, 2011, Dec. 21, 2011, Dec. 22, 2011, Dec. 23, 2011 and Dec. 27, 2011.

The notes priced on Jan. 14 and are expected to settle on Jan. 20.

Issuer:	Barclays Bank plc
Issue:	Return enhanced notes
Underlying index:	S&P 500
Amount:	$24 million
Maturity:	Dec. 30, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	If index is above initial level at closing, par plus twice the index return up to a maximum of 20%; otherwise, par plus index return, with exposure to losses
Initial index level:	1,293.24
Pricing date:	Jan. 14
Settlement date:	Jan. 20
Agent:	Barclays Bank plc
Fees:	$0
Cusip:	06741JBZ1

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