Heat oven to 375°F Grease 9-inch square baking pan.
Stir together flour, sugar and baking powder; cut in butter with pastry blender or fork until mixture resembles coarse crumbs. Stir in beaten egg until blended.
Reserve 1 cup mixture; press remaining mixture onto bottom of prepared pan. Stir jelly to soften; spread evenly over crust. Sprinkle 1 cup peanut butter chips over jelly. Stir remaining 2/3 cup chips into reserved crumb mixture; sprinkle over top.
Bake 25 to 30 minutes or until lightly browned. Cool completely in pan on wire rack. Cut into bars. About 16 bars.