Barclays plans issue of principal-protected notes linked to currency basket

By E. Janene Geiss

Philadelphia, Dec. 12 - Barclays Bank plc plans to price an issue of 100% principal-protected notes due Dec. 26, 2008 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the Brazilian real, Russian ruble, Indian rupee, Chinese yuan, the euro and the Japanese yen.

The notes are expected to price Dec. 21 and settle Dec. 27.

The payout at maturity will be determined based upon the performance of the currencies against the dollar. If the basket has a positive performance, the payout will be par plus the return on the basket multiplied by a percentage to be determined at pricing and expected to be 200% of the basket performance. If the basket has a negative performance, the payout will be par.

Barclays Capital will be the agent.

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