Barclays plans buffered notes on five Asian indexes, currencies

By Toni Weeks

San Diego, Oct. 11 - Barclays Bank plc plans to price buffered return enhanced notes due Nov. 2, 2012 linked to a basket of five Asian equity indexes and their related currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket components are the Hang Seng China Enterprises index with a 21% weight, the Korea Composite Stock Price Index 200 with a 25% weight, the MSCI Taiwan index with a 20% weight, the Hang Seng index with a 25% weight and the MSCI Singapore index with a 9% weight.

The related currencies are the Hong Kong dollar for the Hang Seng China, the Korean won for the Korea Composite, the Taiwan dollar for the MSCI Taiwan, the Hong Kong dollar for the Hang Seng and the Singapore dollar for the MSCI Singapore.

The basket return will equal the sum of the weighted component returns for the five basket components.

If the final basket level is greater than the initial basket level, the payout at maturity will be par plus double the basket return, subject to a maximum return of at least 21.2%. The exact maximum return will be set at pricing.

Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% decline beyond 10%.

The notes (Cusip: 06738KXN6) are expected to price Oct. 14 and settle Oct. 19.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will act as agents.

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