Barclays plans two-year 90% protected Mitts linked to currency basket

By Susanna Moon

Chicago, Oct. 28 - Barclays Bank plc plans to price 0% Currency Market Index Target-Term Securities due November 2015 linked to a basket of equally weighted emerging market currencies relative to the euro, according to an FWP filing with the Securities and Exchange Commission.

The underlying currencies are the Brazilian real and the Mexican peso.

BofA Merrill Lynch is the underwriter.

The payout at maturity will be par of $10 plus 155% to 175% of any gain in the currency basket.

If the basket falls, the payout will be par plus the return with a minimum payout of 90% of par.

The notes are will price in November and settle in December.

The exact deal terms will be set at pricing.

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