Combine flour, sugar and baking powder. Cut in the butter until you have coarse crumbs. Add beaten egg and stir until smooth. Reserve 1/2 the mixture. Press remaining 1/2 into the bottom of a 9 inch square pan. Spread grape jelly evenly over crust to within 1/2 inch of the edge. Sprinkle 1/2 cup peanut butter chips over the jelly. Crumble remaining crumbs over the chips. Bake for 30 minutes at 375 degrees or until lightly brown. Cool. Cut into 12 bars.