NEW YORK, March 28, 2012 /PRNewswire/ -- Legg Mason BW Global Income Opportunities Fund Inc. (the "Fund") announced today that pricing has been completed for its initial public offering. The Fund raised approximately $459 million in its common stock offering, assuming full exercise of the underwriters' overallotment option, which may or may not occur. Its shares began trading today on the New York Stock Exchange under the symbol "BWG". The Fund's primary investment objective is to provide current income. As a secondary investment objective, the Fund will seek capital appreciation. There can be no assurance the Fund will achieve its investment objectives. The Fund is a global, flexible portfolio that uses a macro-value oriented approach to invest across countries, currencies and credits. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its Managed Assets in global fixed-income securities. These may include, but are not limited to, sovereign debt of developed and emerging market countries, U.S. and non-U.S. corporate debt, mortgage-backed securities ("MBS") and currency exposure. The Fund may manage its currency exposure through the use of futures, forwards and other derivative instruments, for hedging and investment purposes. "Managed Assets" means the net assets of the Fund plus the principal amount of any borrowings by the Fund and assets attributable to any preferred stock issued by the Fund that may be outstanding. The Fund's specific investments will shift as the Fund rotates among countries, credits and currencies to find the most attractive values over time. Under normal market conditions, no more than 35% of the Fund's Managed Assets may be rated below investment grade (commonly known as "high yield" or "junk") by a nationally recognized statistical rating organization or determined to be of comparable quality; provided however, that the quality of a security will be based on the highest rating it receives.