Barclays to price 6%-8% yield optimization notes linked to S&P Depositary Receipts via UBS

By Marisa Wong

Milwaukee, May 11 - Barclays Bank plc plans to price yield optimization notes with contingent protection due Nov. 18, 2010 linked to Standard & Poor's Depositary Receipts, according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will carry an annualized coupon of 6% to 8%, with the exact rate to be set at pricing. Interest will be payable monthly.

The face amount of each note will be equal to the closing price of one SPDR on the pricing date.

If the final price of the SPDRs is less than 80% of the initial price, then the payout at maturity will be one SPDR per note. Otherwise, the payout will be par.

The notes are expected to price on May 12 and settle on May 17.

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

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