Barclays lowers participation rate for principal-protected notes linked to five currencies

By Jennifer Chiou

New York, Jan. 23 - Barclays Bank plc cut the participation rate for its planned issue of zero-coupon principal-protected notes due July 28, 2010 linked to a basket of five currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket comprises equal weights of the exchange rates against the dollar of the Brazilian real, the Russian ruble, the Indian rupee, the Chinese yuan and the euro.

At maturity, investors will now receive par plus 120%, lowered from 215%, of any gain on the basket. Investors will receive at least par.

The notes are expected to price on Jan. 25 and settle on Jan. 31.

Barclays Capital Inc. is the agent.

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