Barclays plans 6.05%-8.05% airbag yield autocallables tied to Alexion

By Marisa Wong

Madison, Wis., Jan. 13 – Barclays Bank plc plans to price 6.05% to 8.05% airbag autocallable yield optimization notes due Jan. 22, 2016 linked to the common stock of Alexion Pharmaceuticals, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be determined at pricing.

The notes will be automatically called at par plus the coupon if the stock closes at or above the initial share price on any quarterly observation date.

If the notes are not called, 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 Alexion shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on Jan. 16 and settle on Jan. 22.

The Cusip number is 06740D483.

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