New Issue: Barclays prices $14.32 million capped market plus notes tied to gold

By Jennifer Chiou

New York, Oct. 26 - Barclays Bank plc priced $14.32 million of 0% capped market plus notes due Nov. 7, 2011 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.

If the price of gold falls below the barrier level - 80% of the initial price - during the life of the notes, the payout at maturity will be par plus the gold return, which could be positive or negative. Otherwise, the payout will be par plus the gold return, subject to a minimum return of 5%.

In each case, the return will be capped at 24.05%.

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

Issuer:	Barclays Bank plc
Issue:	Capped market plus notes
Underlying commodity:	Gold
Amount:	$14,316,000
Maturity:	Nov. 7, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	If price of gold declines by 20% or more during life of notes, par plus gold return with exposure to any decline; otherwise, par plus greater of gold return and 5%; return capped at 24.05% in each case
Initial gold price:	$1,322.50
Pricing date:	Oct. 22
Settlement date:	Oct. 29
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	06740P2S4

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