Barclays Bank to price CDs linked to four currencies

By Angela McDaniels

Tacoma, Wash., Sept. 11 - Barclays Bank Delaware plans to price 0% certificates of deposit due March 28, 2012 linked to a basket of currencies, according to a term sheet.

The basket includes equal weights of the Japanese yen, Swiss franc, New Taiwan dollar and Singapore dollar. The level of the basket increases as the currencies weaken relative to the U.S. dollar.

If the final basket level is greater than the initial level, the payout at maturity will be par plus the gain. If the final level is less than the initial level, the payout will be par plus 50% of the absolute value of the decline.

The CDs are expected to price on Sept. 23 and settle on Sept. 30.

Barclays Capital Inc. is the agent.

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