Marshall & Ilsley Bank plans absolute return barrier CDs linked to S&P 500

By Susanna Moon

Chicago, June 9 - Marshall & Ilsley Bank said it plans to price 0% absolute return barrier certificates of deposit due June 30, 2010 linked to the S&P 500 index, according to a term sheet.

If the index stays within a barrier range during the life of the notes, the payout at maturity will be par plus any gain on the index, up to a maximum index return of 30% to 32%.

Otherwise, the payout will be par.

The lower barrier level will be 85% of the initial level, and the upper barrier level will be 130% to 132% of the initial level.

The exact cap and barrier range will be set at pricing.

Pricing is expected on June 25 and settlement on June 30.

JVB will be the distributor.

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