Barclays to price 0% principal protection absolute return barrier notes tied to crude oil via UBS, Barclays

By Susanna Moon

Chicago, Aug. 15 - Barclays Bank plc plans to arrange zero-coupon principal protection absolute return barrier notes due Feb. 26, 2010 linked to WTI crude oil, according to an FWP filing with the Securities and Exchange Commission.

If the settlement price of crude oil never closes above the upper barrier or below the lower barrier on any trading day during the observation period, investors will receive par of $10 plus the absolute value of the return. The barriers are expected to be 30% to 35% of the initial price and will be set at pricing.

Investors will receive at least par.

The notes will price on Aug. 26 and settle on Aug. 29.

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

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