Barclays plans 98% protected notes on BRIC currencies via JPMorgan

By E. Janene Geiss

Philadelphia, Sept. 9 - Barclays Bank plc plans to price zero-coupon 98% principal-protected notes due Sept. 16, 2011 linked to the performance of a basket of equally weighted currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

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

The underlying currencies are the Brazilian real, Russian ruble, Indian rupee and Chinese yuan.

The payout at maturity will be 98% of par plus at least 1.44 times any basket gain, up to a maximum return of at least 19.6% per note. The exact upside leverage factor and cap will be set at pricing.

Investors will receive at least 98% of par.

The notes are expected to price on Sept. 11 and settle on Sept. 16.

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