Barclays plans buffered return enhanced notes on three currencies

By Jennifer Chiou

New York, May 10 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Nov. 16, 2012 linked to the performance of a basket of currencies relative to the dollar, according to an FWP with the Securities and Exchange Commission.

The equally weighted basket includes the Indonesian rupiah, the Mexican peso and the Turkish lira.

If the basket appreciates relative to the dollar, the payout at maturity will be par plus 1.75 times the basket return. Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.

The notes (Cusip: 06738KKC4) are expected to price on May 13 and settle on May 18.

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

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