Barclays plans digital plus notes linked to four Asian currencies

By Angela McDaniels

Tacoma, Wash., Dec. 13 - Barclays Bank plc plans to price 0% digital plus notes due Dec. 29, 2011 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the Singapore dollar, the Indian rupee, the Indonesian rupiah and the South Korean won. The basket return will be positive if the basket appreciates relative to the U.S. dollar.

If the basket return is 3% or more, the payout at maturity will be 95% of par plus the greater of the basket return and a minimum coupon percentage that is expected to be 13.85% and will be set at pricing.

If the basket return is less than 3%, the payout will be 95% of par.

The notes (Cusip 06740PYB6) are expected to price Dec. 17 and settle Dec. 22.

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

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