Barclays to price trigger autocallables tied to corn futures via UBS

By Jennifer Chiou

New York, May 23 - Barclays Bank plc plans to price 0% trigger autocallable optimization securities due June 8, 2012 linked to corn futures contracts, 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 20% to 25% if price of the futures contract closes at or above the initial price on any of the quarterly observation dates. The exact call return will be set at pricing.

The payout at maturity will be par if the final price of the futures contract is greater than or equal to 80% of the initial price, and investors will share fully in any losses if the final price is less than the trigger price.

The notes (Cusip: 06741K3959) will price on May 26 and settle on May 31.

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

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