Barclays plans trigger autocallable optimization notes linked to Oil Service Holdrs

By Angela McDaniels

Tacoma, Wash., Jan. 10 - Barclays Bank plc plans to price 0% trigger autocallable optimization securities due Jan. 25, 2016 linked to the Oil Service Holdrs Trust, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus an annualized call return of 9% to 11% if the closing price of the trust's depositary receipts is greater than or equal to the initial price on any of 17 quarterly observation dates, which begin in January 2012. The exact call return will be set at pricing.

If the notes are not called and the final depositary receipt price is greater than or equal to 60% of the initial price, the payout at maturity will be par. Otherwise, the payout will be par plus the trust return.

The notes (Cusip: 06740P593) are expected to price Jan. 18 and settle Jan. 21.

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

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