Barclays plans to sell PLUS linked to currencies via Morgan Stanley

By Susanna Moon

Chicago, Feb. 26 - Barclays Bank plc plans to price 0% Performance Leveraged Upside Securities due March 28, 2012 based on the performance of three equally weighted currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

Morgan Stanley Smith Barney LLC and Barclays Capital Inc. are the agents.

The underlying currencies are the Japanese yen, British pound and euro.

If the basket falls against the dollar, the payout at maturity will be par plus 135% of the change in the basket level, up to a maximum return of 15% to 20%. The exact cap will be set at pricing.

If the basket gains versus the dollar, investors will suffer a loss equal to the change in the basket level.

The notes will price and settle in March.

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