By Angela McDaniels
Tacoma, Wash., July 27 - Barclays Bank plc priced $600,000 of 0% Super Track notes due July 31, 2012 linked to the bearish performance of the Japanese yen relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency return is positive, the payout at maturity will be par plus the greater of 10% and the currency return. If the currency return is negative, investors will be exposed to the decline.
The currency return will be positive if the yen depreciates in value relative to the dollar. It will be negative if the yen appreciates relative to the dollar.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Super Track notes
|
| Underlying currency: | Japanese yen relative to dollar
|
| Amount: | $600,000
|
| Maturity: | July 31, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency return is positive, par plus greater of 10% and currency return; if currency return is negative, full exposure to decline; currency return will be positive if yen depreciates relative to dollar
|
| Initial exchange rate: | 87.29 yen per dollar
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 06740PBS4
|
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