New Issue: Barclays prices $8.14 million 98% principal-protected notes linked to BRIC currencies

By Angela McDaniels

Tacoma, Wash., Aug. 25 - Barclays Bank plc priced $8.14 million of zero-coupon 98% principal-protected notes due Aug. 26, 2011 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.

The basket includes equal weights of the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi.

The payout at maturity will be 98% of par plus 1.56 times any appreciation in the basket relative to the dollar, subject to a maximum return of 21.4%. If the basket stays flat or depreciates relative to the dollar, the payout will be 98% of par.

Issuer:	Barclays Bank plc
Issue:	98% principal-protected notes
Underlying currencies:	Brazilian real, Russian ruble, Indian rupee and Chinese renminbi, equally weighted.
Amount:	$8,138,000
Maturity:	Aug. 26, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	98% of par plus 1.56 times any basket appreciation versus the dollar, up to maximum return of 21.4%; if basket stays flat or depreciates versus the dollar, 98% of par
Initial exchange rates:	1.8339 reais per dollar, 31.6828 rubles per dollar, 48.6150 rupees per dollar and 6.8312 renminbi per dollar
Pricing date:	Aug. 21
Settlement date:	Aug. 26
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
Fees:	1.5%

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