Barclays plans 8.35%-10.85% yield optimization notes on Vale via UBS

By Jennifer Chiou

New York, Nov. 22 - Barclays Bank plc plans to price 8.35% to 10.85% yield optimization notes with contingent protection due Nov. 30, 2011 linked to the American Depositary Shares of Vale SA, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be set at pricing.

If the final price of Vale ADSs is less than 80% of the initial ADS price, the payout at maturity will be one Vale ADS per note. Otherwise, the payout will be par.

The notes (Cusip: 06740P775) are expected to price on Nov. 24 and settle on Nov. 30.

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

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