Barclays plans 95% principal-protected notes linked to three currency baskets

By E. Janene Geiss

Philadelphia, Oct. 6 - Barclays Bank plc plans to price zero-coupon 95% principal-protected notes due Oct. 14, 2011 linked to the performance of three baskets of currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The first basket consists of equal weights of the Canadian dollar, Mexican peso and Brazilian real. The second basket consists of equal weights of the euro, Swedish krona and Swiss franc. The third basket consists of the Japanese yen, Singapore dollar and South Korean won.

If the baskets increase over the dollar, the payout at maturity will be 95% of par plus 50% of any gain in the top performing basket, 35% of any gain in the middle performing basket and 15% of any gain in the lowest performing basket.

If the baskets remain flat or depreciate versus the dollar, investors will receive 95% of par.

The notes are expected to price Oct. 9 and settle Oct. 14.

Barclays Capital Inc. is the agent.

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