Barclays plans 7%-9% airbag autocallables linked to Micron Technology

By Angela McDaniels

Tacoma, Wash., Dec. 18 - Barclays Bank plc plans to price 7% to 9% airbag autocallable yield optimization notes due Dec. 29, 2014 linked to the common stock of Micron Technology Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called automatically at par if Micron Technology shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Micron Technology shares equal to $1,000 divided by the conversion price. The conversion price will be 75% of the initial share price.

UBS Financial Services Inc. and Barclays are the underwriters.

The notes are expected to price Dec. 20 and settle Dec. 31.

The Cusip number is 06742B303.

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