Barclays plans autocallable optimization securities on Merck via UBS

By Jennifer Chiou

New York, July 13 - Barclays Bank plc plans to price 0% autocallable optimization securities with contingent protection due July 21, 2011 linked to the common stock of Merck & Co., Inc., according to an FWP filing with the Securities and Exchange Commission.

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

If Merck shares close at or above the initial share price on any of the 12 monthly observation dates, the notes will be called and investors will receive par of $10 plus an annualized return of 15.25% to 19.25% that will be set at pricing.

If the notes are not called, the payout at maturity will be par if the final share price is at least 80% of the initial price. Otherwise, investors will receive par plus the share return.

The notes are expected to price on July 15 and settle on July 20.

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