Barclays plans phoenix autocallable notes linked to Bank of America

By Susanna Moon

Chicago, April 10 - Barclays Bank plc plans to price phoenix autocallable securities due April 30, 2014 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 15.07% if Bank of America stock closes at or above the 80% trigger level on a quarterly observation date.

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

If the notes are not called and Bank of America 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 any losses.

UBS Financial Services Inc. and Barclays are the underwriters.

The notes will price on April 12 and settle on April 17.

The Cusip number is 06741TSV0.

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