Barclays plans notes linked to Brazilian Interbank Deposit Rate, real

By Angela McDaniels

Tacoma, Wash., Nov. 29 - Barclays Bank plc plans to price notes linked to the Brazilian Interbank Deposit Rate and the exchange rate between the Brazilian real and the dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will have a tenor of two-and-three-quarters to four years.

Interest is payable quarterly. On each interest payment date, investors will receive a compounded interest amount in dollars equal to the (a) product of (i) par, (ii) the initial exchange rate, (iii) 67% and (iv) the product of the compounded values of the Brazilian Interbank Deposit Rate on each business day during the interest period divided by (b) the current exchange rate.

The issuer noted that if either the Brazilian Interbank Deposit Rate declines and/or the real declines in value relative to the dollar, the amount of interest will be negatively affected.

The payout at maturity will be par plus the percentage change in the exchange rate, which will be negative if the real declines relative to the dollar.

The notes (Cusip 06740PS31) will price Dec. 3 and settle Dec. 8.

Barclays Capital Inc. is the agent.

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