Barclays plans to price 13-month PLUS linked to S&P 500 index

By Angela McDaniels

Tacoma, Wash., May 25 - Barclays Bank plc plans to price 0% Performance Leveraged Upside Securities due July 27, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 150% of the index return if it is positive, subject to a maximum return of 14% to 18% that will be set at pricing. Investors will be exposed to the decline if the index return is negative.

The notes (Cusip: 06741K353) are expected to price June 24 and settle June 29.

Morgan Stanley Smith Barney LLC and Barclays Capital Inc. are the agents.

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