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Barclays plans to price digital step-up notes linked to Mexican peso
By Marisa Wong
Madison, Wis., June 25 - Barclays Bank plc plans to price digital step-up notes due July 10, 2014 linked to the Mexican peso relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
If the currency return is greater than 5%, the payout at maturity will be par plus the maximum return of 11.95%.
If the currency return is greater than or equal to 0% but less than or equal to 5%, the payout will be par plus 5%.
Investors will receive par if the return is negative but greater than or equal to negative 30%.
Otherwise, investors will be fully exposed to losses.
The notes (Cusip: 06741TYD3) are expected to price on June 28 and settle on July 3.
Barclays will be the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as agents.
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