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Published on 3/30/2011 in the Prospect News Structured Products Daily.

Barclays plans five-year 0% notes tied to Asian indexes, currencies

By Marisa Wong

Madison, Wis., March 30 - Barclays Bank plc plans to price 0% notes due April 12, 2016 linked to a basket of indexes and their related Asian currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket includes the Hang Seng China Enterprises index with a 33% weight, the Korea Composite Stock Price Index 200 with a 24% weight, the MSCI Taiwan Price index with a 21% weight, the Hang Seng index with a 14% weight and the MSCI Singapore Free Price index with an 8% weight.

To determine the return for each component, the issuer will multiply the index return by the return of the applicable currency - the Hong Kong dollar for the Hang Seng and Hang Seng China Enterprises, the Korean won for the Kospi, the Taiwan dollar for the MSCI Taiwan and the Singapore dollar for the MSCI Singapore - relative to the U.S. dollar.

The payout at maturity will be par plus any basket gain, subject to a maximum return of 49%. Investors will receive at least par.

The notes (Cusip: 06738KGC9) will price on March 31 and settle on April 7.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.


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