Barclays plans to price two-year notes linked to BRIC currencies

By Angela McDaniels

Tacoma, Wash., Dec. 6 - Barclays Bank plc plans to price 0% notes due Dec. 27, 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 basket includes the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi, each with a 25% weight.

If the basket return is positive, the payout at maturity will be par of $10 plus 200% to 230% of the return. The exact participation rate will be set at pricing.

Investors will be exposed to the decline if the basket return is negative, subject to a maximum loss of 10%.

The notes (Cusip 06740P676) are expected to price Dec. 23 and settle Dec. 29.

UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.

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