Barclays to price notes linked to crude oil, offshore Chinese renminbi

By Angela McDaniels

Tacoma, Wash., Feb. 20 - Barclays Bank plc plans to price 0% notes due March 5, 2014 linked to Brent crude oil and the offshore Chinese renminbi, according to an FWP filing with the Securities and Exchange Commission.

If the Brent crude return is greater than or equal to negative 25%, the payout at maturity will be par plus the contingent digital amount, if applicable. Otherwise, investors will receive par plus the contingent digital amount, if applicable, minus 1% for each 1% that the Brent crude price declines beyond 25%.

The contingent digital amount is 20.55%. Investors will receive it if the offshore Chinese renminbi appreciates relative to the dollar or remains flat at maturity. The final exchange rate will be the average of the exchange rates on the 10 trading days ending Feb. 28, 2014.

Barclays is the underwriter with J.P. Morgan Securities LLC as placement agent.

The notes are expected to price Feb. 22 and settle Feb. 27.

The Cusip number is 06741TPK7.

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