New Issue: Barclays prices $43.53 million buffered return enhanced notes on S&P 500 via JPMorgan

By Toni Weeks

San Diego, March 22 - Barclays Bank plc priced $43.53 million of 0% buffered return enhanced notes due April 4, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any index gain, up to a maximum return of 11.43%.

Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% decline beyond 10%.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will be agents.

Issuer:	Barclays Bank plc
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500
Amount:	$43.53 million
Maturity:	April 4, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any index gain, capped at 11.43%; par if index declines by 10% or less; loss of 1.1111% per 1% decline beyond 10%
Initial index level:	1,279.2
Final index level:	Average of index's closing levels on the five trading days ending March 30, 2012
Pricing date:	March 18
Settlement date:	March 23
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	06738KEQ0

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