Barclays to price return enhanced notes linked to BRIC currencies

By Jennifer Chiou

New York, July 11 - Barclays Bank plc plans to price 0% return enhanced notes due Jan. 22, 2013 linked to the performance of a basket of currencies relative to the dollar, according to an FWP with the Securities and Exchange Commission.

The equally weighted basket includes the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

If the basket return is greater than zero, the payout at maturity will be par plus 173% of the basket return. The exact upside leverage factor will be set at pricing.

Investors will share in losses of up to 5% and will receive at least 95% of par.

The notes (Cusip: 06738KPD7) are expected to price on July 15 and settle on July 22.

JPMorgan Chase Bank, NA and JPMorgan Securities LLC are the lead agents with Barclays Capital Inc. as co-agent.

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