Barclays to price notes due 2014 linked to Chinese renminbi

By Marisa Wong

Madison, Wis., April 30 - Barclays Bank plc plans to price 0% notes due May 8, 2014 linked to the performance of the Chinese renminbi relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

If the currency return is greater than zero, the payout at maturity will be par plus 202% of the return. If the currency return is less than or equal to zero but greater than negative 2%, the payout will be par. If the return is less than or equal to negative 2%, investors will receive 98% of par. The currency return will be positive if the renminbi appreciates relative to the dollar.

The notes (Cusip: 06738K4L2) are expected to price on May 2 and settle on May 7.

Barclays Capital Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are dealers.

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