Barclays plans capped market plus notes tied to lira against dollar

By Jennifer Chiou

New York, Feb. 1 - Barclays Bank plc plans to price 0% capped market plus notes due Feb. 15, 2012 linked to the Turkish lira relative to the dollar, according to an FWP with the Securities and Exchange Commission.

If the exchange rate is above 115% of the initial rate on any day during the life of the notes, the payout at maturity will be par plus the return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the return and 13.5%.

In each case, the payout will be subject to a maximum of 15%.

The notes (Cusip: 06738KAV3) are expected to price on Feb. 4 and settle on Feb. 11.

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

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