Barclays to price principal-protected bear notes linked to currency basket

By E. Janene Geiss

Philadelphia, Sept. 10 - Barclays Bank plc plans to price an offering of zero-coupon 100% principal-protected bear notes due Sept. 18, 2009 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket will include equal weights of the Australian dollar, Canadian dollar and Swiss franc.

The payout at maturity will be par plus any appreciation of the basket currencies versus the dollar multiplied by a participation rate that is expected to be 190%. If the basket currencies remain flat or depreciate relative to the dollar, the payout will be par.

The notes will price Sept. 13 and settle Sept. 18.

Barclays Capital will be the agent.

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