By Jennifer Chiou
New York, April 25 - Barclays Bank plc priced $3.27 million of 100% principal-protected bear notes due April 29, 2009 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Chinese yuan, Indonesia rupiah, Indian rupee, Japanese yen and Malaysian ringgit, all versus the dollar.
The payout at maturity will be determined based upon the performance of the currencies against the dollar. If the basket has a negative performance, the payout will be par plus 220% of the absolute value of the basket return. If the basket has a positive performance, the payout will be par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | 100% principal-protected bear notes
|
| Underlying basket: | Equal weights of Chinese yuan, Indonesia rupiah, Indian rupee, Japanese yen and Malaysian ringgit, all versus the dollar
|
| Amount: | $3.27 million
|
| Maturity: | April 29, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 220% of the absolute value of any negative return; floor of par
|
| Pricing date: | April 24
|
| Settlement date: | April 27
|
| Agent: | Barclays Capital Inc.
|
| Agent fees: | 1.5%
|
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