Barclays to sell 8.5%-11.5% yield optimization notes on Hess via UBS

By Susanna Moon

Chicago, Dec. 15 - Barclays Bank plc plans to price 8.5% to 11.5% annualized yield optimization notes with contingent protection due June 30, 2010 linked to the common stock of Hess Corp., according to an FWP filing with the Securities and Exchange Commission.

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

Interest will be payable quarterly.

Each note will have a face amount equal to the closing price of Hess stock at pricing.

The payout at maturity will be par unless the price of Hess stock finishes at less than 75% of the initial price, in which case investors will receive one Hess share per note.

The notes are expected to price on Dec. 29 and settle on Dec. 31.

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