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

By Angela McDaniels

Tacoma, Wash., May 15 - Barclays Bank plc plans to price 0% knock-out buffered notes due Nov. 20, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is less than the initial level by more than 23.5%, the payout at maturity will be par plus the index return. Otherwise, the payout will be par plus the index return, subject to a minimum payout of par.

The notes (Cusip: 06738K5U1) are expected to price May 18 and settle May 23.

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

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