By E. Janene Geiss
Philadelphia, Oct. 4 - Barclays Bank plc priced $3 million of zero-coupon principal-protected notes due Oct. 6, 2009 linked to a basket of the BRIC currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Brazilian real, Russian ruble, Indian rupee and Chinese yuan, all against the dollar.
The payout at maturity will be based upon the performance of the basket against the dollar. If the currencies strengthen against the dollar, the payout will be par plus the basket performance multiplied by a participation rate of 300%. If the currencies weaken relative to the dollar or remain flat, the payout will be par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | 100% principal-protected bear notes
|
| Underlying basket: | Equally weighted Brazilian real, Russian ruble, Indian rupee and Chinese yuan, all against the dollar
|
| Amount: | $3 million
|
| Maturity: | Oct. 6, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the basket performance if the currencies strengthen against the dollar; floor of par
|
| Initial exchange rate: | 1.8220 for real; 4.9213 for ruble; 39.6500 for rupee; 7.5093 for yuan
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 5
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2%
|
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