Barclays to price 6.8%-8.8% airbag notes tied to Qihoo 360 Technology

By Angela McDaniels

Tacoma, Wash., Feb. 13 - Barclays Bank plc plans to price 6.8% to 8.8% annualized airbag yield optimization notes due Aug. 21, 2013 linked to the American Depositary Sahres of Qihoo 360 Technology Co. Ltd., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

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

UBS Financial Services Inc. and Barclays are the underwriters.

The notes are expected to price Feb. 15 and settle Feb. 21.

The Cusip number is 06742C830.

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