Barclays plans to price knock-out notes due 2013 linked to S&P 500

By Marisa Wong

Madison, Wis., Nov. 29 - Barclays Bank plc plans to price 0% knock-out notes due Dec. 9, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

A knock-out event occurs if the index closes above 138% of the initial level on any day during the life of the notes.

If a knock-out event occurs, the payout at maturity will be par plus 5%.

If a knock-out event occurs and the index return is greater than negative 3%, the payout will be par plus the index return. If a knock-out event occurs but the index return is equal to or less than negative 3%, investors will receive 97% of par.

The notes (Cusip: 06738KA76) are expected to price Dec. 2 and settle Dec. 7.

Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.

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