Barclays to price phoenix autocallable notes linked to Yum! Brands

By Jennifer Chiou

New York, Jan. 10 - Barclays Bank plc plans to price phoenix autocallable notes due 2014 linked to the common stock of Yum! Brands, Inc., according to an FWP with the Securities and Exchange Commission.

If Yum! Brands shares close at or above the trigger price - 80% of the initial share price - on any quarterly observation date, the issuer will pay a contingent coupon of 11.1%. Otherwise, no coupon will be paid for that period.

If the stock closes at or above the initial price on any quarterly observation date after one year, the notes will be called at par plus the contingent coupon.

If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.

Barclays is the underwriter with JPMorgan Securities LLC as placement agent.

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