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Barclays plans trigger autocallable optimization notes on Hess via UBS
By Susanna Moon
Chicago, Feb. 9 - Barclays Bank plc plans to price 0% trigger autocallable optimization securities due Feb. 17, 2012 linked to Hess Corp. shares, according to an FWP with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call return of 14% to 18% if Hess shares close at or above the initial share price on any of 12 monthly observation dates. The exact call return will be set at pricing.
The payout at maturity will be par if the stock finishes at or above 80% of the initial price.
Otherwise, the payout will be par plus the stock return, with exposure to any losses.
The notes (Cusip: 06740P494) will price on Feb. 11 and settle on Feb. 16.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
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