By Angela McDaniels
Seattle, May 29 - Barclays Bank plc priced a $5.5 million issue of zero-coupon principal-protected bear notes due May 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 Turkish lira, Indian rupee and Brazilian real.
The payout at maturity will be based upon the performance of the currencies against the dollar. If the currencies strengthen against the dollar, the payout will be par plus 600% of the basket increase. If the currencies weaken relative to the dollar or remain flat, the payout will be par.
Barclays Capital is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Principal-protected bear notes
|
| Underlying basket: | Equal weights of the Turkish lira, Indian rupee and Brazilian real, all against the dollar
|
| Amount: | $5.5 million
|
| Maturity: | May 29, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 600% of any basket gain; floor of par
|
| Initial exchange rates: | 1.3322 lira per dollar, 40.43 rupee per dollar, 1.965 reais per dollar
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Agent: | Barclays Capital
|
| Fees: | 3%
|
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