Barclays plans knock-out buffered notes tied to S&P 500 via JPMorgan

By Jennifer Chiou

New York, Sept. 1 - Barclays Bank plc plans to price 0% knock-out buffered notes due March 10, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

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

If the index closes below its knock-out buffer level - 85% of the initial level - during the life of the notes, the payout at maturity will be par plus the index return. Otherwise, the payout will be par plus the return, subject to a contingent minimum return of 4.25%.

The notes are expected to price on Sept. 3 and settle on Sept. 9.

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