Barclays plans buffered return enhanced notes tied to three currencies

By Angela McDaniels

Tacoma, Wash., April 27 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Nov. 1, 2012 linked to the performance of a basket of currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The equally weighted basket includes the Indonesian rupiah, the Mexican peso and the Turkish lira.

If the basket appreciates relative to the dollar, the payout at maturity will be par plus 1.8 times the basket return. Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.

The notes (Cusip: 06738KHW4) are expected to price April 29 and settle May 4.

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

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