New Issue: Barclays prices $56.01 million quarterly review notes linked to S&P GSCI Crude Oil

By Angela McDaniels

Tacoma, Wash., Aug. 10 - Barclays Bank plc priced $56.01 million 0% quarterly review notes due Aug. 15, 2011 linked to the S&P GSCI Crude Oil Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium if the index closes at or above its initial level on Nov. 8, Feb. 7, 2011, May 6, 2011 or Aug. 8, 2011. The call premium will be equal to the index return, subject to a contingent minimum return and a maximum return.

The contingent minimum return is 2% for the first review date, 4% for the second review date, 6% for the third review date and 8% for the fourth review date.

The maximum return is 6% for the first review date, 12% for the second review date, 18% for the third review date and 24% for the fourth review date.

If the notes are not called and the final index level has not declined by more than 15% from the initial level, the payout at maturity will be par. Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.

Issuer:	Barclays Bank plc
Issue:	Quarterly review notes
Underlying index:	S&P GSCI Crude Oil Excess Return
Amount:	$56,014,000
Maturity:	Aug. 15, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level has not declined by more than 15% from initial level, par; otherwise, 1.1765% loss for every 1% decline beyond 15%
Call:	Automatically at par plus index return if index closes at or above initial level on Nov. 8, Feb. 7, 2011, May 6, 2011 or Aug. 8, 2011, subject to contingent minimum return and maximum return
Contingent minimum return:	2% for first review date, 4% for second review date, 6% for third review date and 8% for fourth review date
Maximum return:	6% for first review date, 12% for second review date, 18% for third review date and 24% for fourth review date
Initial index level:	509.6554
Pricing date:	Aug. 6
Settlement date:	Aug. 13
Agent:	JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
Fees:	1%
Cusip:	06740PKL9

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