Barclays plans principal-protected bear notes linked to Asian currency basket

By Laura Lutz

Des Moines, Aug. 13 - Barclays Bank plc plans to price an issue of zero-coupon principal-protected bear notes due Sept. 2, 2009 linked to a basket of five Asian currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the exchange rates against the dollar of the Chinese yuan, the Indonesian rupiah, the Indian rupee, the Japanese yen and the Malaysian ringgit.

The notes are expected to price on Aug. 28 and settle on Aug. 31.

At maturity, investors will receive par plus any positive return on the basket times a participation rate that will be between 195% and 215%. The exact rate will be set at pricing.

The payout will be at least par.

Barclays Capital Inc. is the agent.

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