Barclays plans to price 10-year notes linked to Australian dollar

By Toni Weeks

San Diego, Sept. 6 - Barclays Bank plans to price notes due Sept. 30, 2021 linked to the performance of the Australian dollar exchange rate relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon for the first annual interest payment period will be 6.5% to 8.5%. After that, the interest will be equal to the currency return, with a maximum interest rate of 10%. Interest is payable in September of each year. The initial interest rate will be set at pricing.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date.

The notes (Cusip: 06738KUR0) are expected to price Sept. 27 and settle Sept. 30.

Barclays Capital Inc. will be the agent.

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