Barclays plans 8.9%-11.4% trigger notes on Freeport-McMoRan via UBS

By Susanna Moon

Chicago, Feb. 22 - Barclays Bank plc plans to price 8.9% to 11.4% trigger yield optimization notes due Aug. 31, 2011 based on the performance of Freeport-McMoRan Copper & Gold Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The face amount of each note will be equal to the initial share price of Freeport-McMoRan stock.

The payout at maturity will be par unless the final share price is less than 75% of the initial share price, in which case the payout will be one Freeport-McMoRan share per note.

The notes (Cusip 06741J869) will price on Feb. 24 and settle on Feb. 28.

UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.

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