News Release
iPath® Optimized Currency Carry ETN To Trade On Toronto Stock Exchange
An application has been granted for the original listing of 596,329 iPath® Currency Cary ETN (the "ETNs" or the "Securities") of Barclays Bank PLC ("Barclays Bank") all of which are issued and outstanding.
The ETNs will be listed and posted for trading at the opening on Wednesday, December 9, 2009 pursuant to the terms of a prospectus dated February 10, 2009, a prospectus supplement dated September 14, 2009 and a pricing supplement dated December 4, 2009 (collectively, the "Prospectus"). The ETNs are being issued and sold on a continuous basis.
TSX Stock Symbol: II.U
CUSIP: 06739H 41 2
Trading Currency: US$
Other Markets: NYSE Arca
Temporary Market Maker: BBS Securities Inc.
The registration and transfer of the ETNs will be effected through the book-based system administered by Depository Trust Company and the CDS Clearing and Depository Services Inc. Holders will not have the right to receive physical certificates.
The ETNs will trade on Toronto Stock Exchange ("TSX") in a manner identical to an equity security. The ETNs will appear under a separate heading entitled "Other Debt Securities" in TSX's Daily Record and Monthly Review and in the stock tables of the Financial Press.
Head Office: 200 Park Avenue
New York, New York
10166
Email Address: sandra.godard@barcap.com
Website Address: www.barcap.com
Head Office Telephone Number: (212) 412-4000
Fax Number: (212) 412- 7300
Investor Relations: Sandra Godard
Tel: 416-863-8915
Fiscal Year End: December 31
Nature of Business and Index: The return on the Securities is linked to the performance of the Barclays Capital Intelligent Carry Index (the "Index"), which through an objective and systematic methodology, seeks to capture the returns that are potentially available from a strategy of investing in high-yielding currencies with the exposure financed by borrowings in low-yielding securities. The Securities do not guarantee any return of principal at maturity and do not pay any interest during their term. Instead, you will receive a cash payment at maturity or upon early redemption based on the performance of the Index less an investor fee.
The following is a summary of some of the terms and provisions of the ETNs. All terms below that are capitalized and not defined herein have the meanings ascribed to them in the Prospectus. For further information reference should be made to the Prospectus, which is available at http://www.ipathetn.com/ICI-overview.jsp and on www.sec.gov (EDGAR).
Denominations: U.S. $50 per ETN
Maturity Date: January 28, 2038
Payment at Maturity: If the Securities are held to maturity, you will receive a cash payment equal to (1) the principal amount of your Securities times (2) the index factor on the final valuation date minus (3) the investor fee on the final valuation date.
Redemption: To effect a redemption, the investor must offer at least 50,000 ETNs to Barclays Bank by delivering a notice of redemption via email by no later than 4:00 p.m. New York City time, on the business day prior to the applicable valuation date.
See Prospectus for additional requirements for offering ETNs for redemption.
Early Redemption Value: If you redeem your Securities, you will receive a cash payment in an amount equal to the daily redemption value, which equals (1) the principal amount of your Securities times (2) the index factor on the applicable valuation date minus (3) the investor fee on the applicable valuation date.
Redemption Date: A redemption date for the ETNs is the third business day following each valuation date (other than the final valuation date). The final redemption date will be the third business day following the valuation date that is immediately prior to the final valuation date.
Trading Day: A trading day is a day (1) which is an index business day and (2) on which trading is generally conducted on the NYSE Arca, in each case as determined by the calculation agent in its sole discretion.
Investor Fee: The investor fee is equal to 0.65% per year times the principal amount of your Securities times the index factor, calculated on a daily basis in the following manner: The investor fee on the inception date will equal zero. On each subsequent calendar day until maturity or early redemption, the investor fee will increase by an amount equal to (1) 0.65% times (2) the principal amount of your Securities times (3) the index factor on that day (or, if such day is not a trading day, the index factor on the immediately preceding trading day) divided by (4) 365.



