Barclays plans trigger phoenix autocallable notes linked to Transocean

By Susanna Moon

Chicago, June 19 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Dec. 31, 2014 linked to Transocean Ltd. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 10% to 13% if Transocean stock closes at or above the 75% trigger level on a quarterly observation date. The exact contingent quarterly coupon will be set at pricing.

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 Transocean 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 June 21 and settle on June 28.

The Cusip number is 06742D754.

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