New Issue: Barclays prices $1.86 million capped market plus notes linked to platinum, palladium

By Toni Weeks

San Diego, July 6 - Barclays Bank plc priced $1.86 million of 0% capped market plus notes due July 12, 2012 linked to a basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket components are platinum and palladium.

If the basket level on the final valuation date is greater than or equal to 90% of the initial level, the payout at maturity will be par plus the greater of the contingent minimum return of 9% and the basket return, subject to a maximum return of 14%.

Otherwise, investors will receive par plus the basket return, with full exposure to losses.

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

Issuer:	Barclays Bank plc
Issue:	Capped market plus notes
Underlying commodities:	Platinum and palladium, equally weighted
Amount:	$1,855,000
Maturity:	July 12, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If basket level is greater than or equal to 90% of initial level, par plus greater of 9% and basket return, subject to a cap of 14%; otherwise, full exposure to losses
Initial prices:	$1,708 per troy ounce of platinum and $750 per troy ounce of palladium
Pricing date:	July 1
Settlement date:	July 7
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	06738KMT5

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