New Issue: Barclays prices $2 million principal-protected bear notes linked to yuan, rupee

By E. Janene Geiss

Philadelphia, Aug. 22 - Barclays Bank plc priced $2 million of zero-coupon 100% principal-protected bear notes due Aug. 24, 2009 linked to equal weights of the Chinese yuan and Indian rupee, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any appreciation in the currencies versus the dollar. If the currencies remain flat or depreciate relative to the dollar, the payout will be par.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	100% principal-protected bear notes
Underlying currencies:	Chinese yuan and Indian rupee, equally weighted
Amount:	$2 million
Maturity:	Aug. 24, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any appreciation in the currencies versus the dollar; floor of par
Initial exchange rates:	7.5850 yuan per dollar; 40.91000 rupees per dollar
Pricing date:	Aug. 20
Settlement date:	Aug. 23
Agent:	Barclays Capital
Fees:	2%

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