Barclays plans buffered digital plus notes linked to Asian currencies

By Angela McDaniels

Tacoma, Wash., Oct. 12 - Barclays Bank plc plans to price 0% buffered digital plus notes due Oct. 27, 2011 linked to the performance of a basket of currencies relative to the euro, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the South Korean won, Indonesian rupiah and Singapore dollar. The level of the basket will increase if it appreciates relative to the euro.

If the basket return is 3% or more, the payout at maturity will be 95% of par plus the greater of the basket return and the minimum coupon percentage, subject to a maximum return on the notes of 12.5%. The minimum coupon percentage is expected to be at least 8.8% and will be set at pricing.

If the basket return is less than 3%, the payout will be 95% of par.

The notes (Cusip 06740P2M7) are expected to price Oct. 15 and settle Oct. 20.

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

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