Barclays plans Asian and Gulf currency revaluation notes

By Jennifer Chiou

New York, Jan. 30 - Barclays Bank plc plans to price Asian and Gulf currency revaluation notes due 2038, according to a 424B3 filing with the Securities and Exchange Commission.

The return on the securities is linked to the performance of the reference strategy, which is designed to provide investors with exposure to local currencies in specified Middle Eastern and Asian markets through short-term, liquid and diversified instruments.

The currencies include the Chinese yuan, the Hong Kong dollar, the Saudi Arabia riyal, the Singapore dollar and the United Arab Emirates dirham, all against the U.S. dollar.

On each monthly coupon payment date, investors will receive an amount to reflect the implied interest earned, minus fees, equal to the ex coupon indicative value of the reference strategy roll date times the difference between the monthly return and the monthly spot return.

The payout at maturity will be equal to par of $50 plus the reference strategy value minus the investor fee of 0.89% per year.

The securities are redeemable at the option of the holder after any valuation date, with a minimum amount of at least 50,000 securities.

Barclays Capital Inc. is the agent.

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