Barclays plans return enhanced notes tied to two currencies vs. euro

By Jennifer Chiou

New York, May 5 - Barclays Bank plc plans to price 0% return enhanced notes due May 25, 2011 linked to the performance of a basket of equally weighted currencies relative to the euro, according to an FWP filing with the Securities and Exchange Commission.

The underlying currencies are the Canadian dollar and the Mexican peso.

The payout at maturity will be par plus 2.05 times any basket gain, up to a maximum return of at least 20.5% that will be set at pricing.

Investors will be exposed to any losses.

The notes are expected to price on May 7 and settle on May 12.

JPMorgan Chase Bank, N.A. and JPMorgan Securities Inc. are the agents.

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