Published on 3/7/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.23 million return notes on currencies via JPMorgan
By Susanna Moon
Chicago, March 7 - Barclays Bank plc priced $5.23 million of 0% return enhanced notes due June 7, 2012 linked to an equally weighted basket of three currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
The underlying currencies are the Brazilian real, Indian rupee and Indonesian rupiah.
The payout at maturity will be par plus 2.67 times any index gain.
If the index falls by more than 5%, the payout will be 95% of par.
Issuer: | Barclays Bank plc
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Issue: | Return enhanced notes
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Underlying basket: | Brazilian real, Indian rupee and Indonesian rupiah, equally weighted, relative to the dollar
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Amount: | $5,233,000
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Maturity: | June 7, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 267% of any basket gain; losses up to 5%
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Initial exchange rates: | 1.6462 for the real, 44.9900 for the rupee and 8,794 for the rupiah
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Pricing date: | March 4
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Settlement date: | March 9
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Agent: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 06738KDG3
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