Barclays plans trigger phoenix autocallable notes tied to Yum! Brands

By Susanna Moon

Chicago, Oct. 23 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Nov. 13, 2014 linked to Yum! Brands, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11% if Yum! stock closes at or above the 85% trigger level on a quarterly observation date.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.

The payout at maturity will be par plus the contingent coupon unless Yum! shares finish below the trigger level, in which case investors will be fully exposed to any losses.

UBS Financial Services Inc. and Barclays are the underwriters.

The notes will price on Oct. 25 and settle on Oct. 30.

The Cusip number is 06741TU62.

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