Barclays to price principal-protected notes linked to Asian currency basket

By Angela McDaniels

Seattle, Oct. 17 - Barclays Bank plc plans to price zero-coupon 100% principal-protected bear notes due Oct. 29, 2008 linked to the performance of the dollar versus a basket of Asian currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket will include equal weights of the Chinese yuan, Korean won, Indian rupee, Malaysian ringgit and Philippine peso.

The payout at maturity will be par plus any appreciation in the basket currencies versus the dollar multiplied by a participation rate that is expected to be 125% to 130% and will be determined at pricing.

If the dollar appreciates versus the basket currencies, the payout will be par.

The notes will price on Oct. 26 and settle on Oct. 31.

Barclays Capital Inc. will be the agent.

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