Barclays to price digital plus notes linked to BRIC currency basket

By E. Janene Geiss

Philadelphia, June 13 - Barclays Bank plc plans to price zero-coupon 100% principal-protected digital plus notes due Dec. 31, 2009 linked to a basket of BRIC currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the exchange rate of the U.S. dollar versus the Brazilian real, Russian ruble, Indian rupee and Chinese yuan.

If the basket currencies appreciate relative to the dollar, the payout at maturity will be par plus any return on the basket, with a minimum payout of par plus the digital level. The digital level will be 8.15% to 8.45%, with the exact amount to be set at pricing.

If the basket return is zero or negative, the payout at maturity will be par.

The notes will price June 23 and settle June 30.

Barclays Capital is the agent.

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