Barclays plans to price principal-protected notes linked to Barclays Intelligent Carry Index USD ER

By E. Janene Geiss

Philadelphia, May 29 - Barclays Bank plc plans to price an issue of zero-coupon 100% principal-protected notes due June 29, 2011 linked to the Barclays Intelligent Carry Index USD ER, according to an FWP filing with the Securities and Exchange Commission.

The index is designed to reflect the total return of a strategy of investing in high-yielding currencies with the exposure financed by borrowings in low-yielding currencies. The pool of currencies to which the index may apply these strategies is commonly referred to as the "G10 currencies" and includes the U.S. dollar, euro, Japanese yen, Canadian dollar, Swiss franc, British pound sterling, Australian dollar, New Zealand dollar, Norwegian krone and Swedish krona.

The payout at maturity will be par plus 150% of any index gain. Investors will receive at least par.

The notes are expected to price June 25 and settle June 30.

Barclays Capital Inc. is the agent.

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