Barclays plans callable contingent accrual notes tied to Libor, S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 24 - Barclays Bank plc plans to price callable contingent accrual notes due to Feb. 17, 2026 linked to Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be 7.3% to 7.6% per year multiplied by the proportion of days on which Libor is 7% or less and the S&P 500 closes at or above 875. The exact base rate will be set at pricing. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning Feb. 17, 2012, the notes will be callable at par on any interest payment date.

The notes (Cusip: 06741JCM9) will price Feb. 11 and settle Feb. 17.

UBS Financial Services Inc. and Barclays Capital Inc. are the agents.

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