Barclays plans buffered return enhanced notes tied to currency basket

By Toni Weeks

San Diego, May 16 - Barclays Bank plc plans to price buffered return enhanced notes due Nov. 26, 2012 linked to a basket of currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The equally weighted basket components are the Mexican peso, Turkish lira and Indonesian rupiah.

The payout at maturity will be 1.95 times any gain in the basket.

Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for every 1% decline in the basket beyond 10%.

The notes (Cusip: 06738KKM2) are expected to price May 20 and settle May 25.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

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