Barclays plans trigger phoenix autocallables linked to Kodiak

By Marisa Wong

Madison, Wis., June 4 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Dec. 11, 2015 linked to the common stock of Kodiak Oil & Gas Corp., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 8% to 10.35% if Kodiak stock closes at or above the trigger price, 70% of the initial share price, on the observation date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.

If the notes are not called and Kodiak shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the stock's decline.

UBS Financial Services Inc. and Barclays are the underwriters.

The notes will price on June 6 and settle on June 11.

The Cusip number is 06742W786.

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