Barclays to price digital plus notes linked to four Asian currencies

By Angela McDaniels

Tacoma, Wash., Dec. 7 - Barclays Bank plc plans to price 0% digital plus notes due Dec. 21, 2011 linked to the performance of a basket of currencies relative to the U.S. dollar, according to an FWP filing with the Securities and Exchange Commission.

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

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, which is expected to be at least 12.3% and will be set at pricing.

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

The notes (Cusip 06740PX35) are expected to price Dec. 10 and settle Dec. 15.

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

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