Barclays plans 8%-10.5% yield optimization notes tied to Weatherford

By Angela McDaniels

Tacoma, Wash., Sept. 3 - Barclays Bank plc plans to price 8% to 10.5% yield optimization notes with contingent protection due Sept. 22, 2011 linked to the common stock of Weatherford International Ltd., according to an FWP filing with the Securities and Exchange Commission.

The face value of each note will be equal to the closing price of Weatherford International stock on the pricing date.

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

The payout at maturity will be par unless the final share price of Weatherford International stock is less than 75% of the initial share price, in which case the payout will be on Weatherford International share per note.

The notes (Cusip: 06740L196) are expected to price Sept. 16 and settle Sept. 21.

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

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