Barclays to price 7.25%-9.75% yield optimization notes linked to Chevron via UBS

By Angela McDaniels

Tacoma, Wash., May 13 - Barclays Bank plc plans to price yield optimization notes with contingent protection due Nov. 30, 2009 linked to the common stock of Chevron Corp., according to an FWP filing with the Securities and Exchange Commission.

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

The six-month notes will pay an annualized coupon of 7.25% to 9.75%, with the exact coupon to be set at pricing. Interest will be payable quarterly.

Each note will have a face amount that is equal to the closing price of Chevron stock on the pricing date.

If the final share price of Chevron stock is less than 75% of the initial share price, the payout at maturity will be one Chevron share per note. Otherwise, the payout will be par.

The notes are expected to price May 27 and settle May 29.

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