Barclays plans 7.6%-10.1% trigger yield optimization notes on Nabors

By Jennifer Chiou

New York, May 24 - Barclays Bank plc plans to price 7.6% to 10.1% annualized trigger yield optimization notes due Nov. 30, 2011 linked to the common stock of Nabors Industries Ltd., according to an FWP with the Securities and Exchange Commission.

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

The face amount of each note will be equal to the initial share price of Nabors stock.

The payout at maturity will be par unless the final price of Nabors stock is less than 75% of the initial share price, in which case investors will receive one Nabors share per note.

The notes (Cusip: 06741K361) are expected to price on May 26, with settlement on May 31.

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

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