New Issue: Barclays prices $1.26 million knock-out notes linked to S&P 500 index

By Toni Weeks

San Diego, Dec. 13 - Barclays Bank plc priced $1.26 million of 0% knock-out notes due Dec. 16, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the index closes above 131% 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 the contingent return of 5%.

If a knock-out event has not occurred and the index return is greater than negative 3%, the payout will be par plus the index return. If the index falls by 3% or more, investors will receive 97% of par.

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

Issuer:	Barclays Bank plc
Issue:	Knock-out buffered notes
Underlying index:	S&P 500
Amount:	$1,255,000
Maturity:	Dec. 16, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If index closes above knock-out level any day during life of notes, par plus 5%; if knock-out event has not occurred and index return is greater than negative 3%, par plus index return; investors will receive minimum of 97% of par if index falls by 3% or more
Initial level:	1,255.19
Knock-out level:	1,644.3, 131% of initial level
Pricing date:	Dec. 9
Settlement date:	Dec. 14
Agents:	Barclays Capital Inc. as underwriter, JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
Fees:	1.5%
Cusip:	06738KC82

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