New Issue: Barclays prices $80.16 million buffered return enhanced notes linked to palladium

By Angela McDaniels

Tacoma, Wash., Feb. 3 - Barclays Bank plc priced $80.16 million of 0% buffered return enhanced notes due Feb. 17, 2015 linked to palladium, according to a 424B2 filing with the Securities and Exchange Commission.

If the final price of palladium is greater than the initial price, the payout at maturity will be par plus 1.21 times the increase, subject to a maximum return of 12.1%. Investors will receive par if the price declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.

Barclays is the underwriter, with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

Issuer:	Barclays Bank plc
Issue:	Buffered return enhanced notes
Underlying commodity:	Palladium
Amount:	$80,159,000
Maturity:	Feb. 17, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If final price of palladium is greater than initial price, par plus 1.21 times gain, capped at 12.1%; par if price decline by up to 10%; 1.1111% loss for every 1% decline beyond 10%
Initial palladium price:	$726.20 per troy ounce, equal to average of settlement prices on five trading days ending on pricing date
Final palladium price:	Average of settlement prices on five trading days ending Feb. 11, 2015
Pricing date:	Jan. 30
Settlement date:	Feb. 4
Underwriter:	Barclays
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	06741T4X2

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