Barclays plans to price trigger phoenix autocallables linked to Avago

By Toni Weeks

San Luis Obispo, Calif., Dec. 11 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due June 19, 2015 linked to the common stock of Avago Technologies Ltd., according to an FWP filing with the Securities and Exchange Commission.

If Avago stock closes at or above the coupon barrier - 80% of the initial share price - on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at an annualized rate of 10% to 13%. Otherwise, no coupon will be paid that quarter. The exact coupon will be set at pricing.

If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Avago shares finish at or above the 80% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

The notes (Cusip: 06742E232) are expected to price Dec. 13 and settle Dec. 19.

UBS Financial Services Inc. and Barclays are the underwriters.

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