Barclays plans autocallable optimization notes tied to SPDR S&P 500

By Angela McDaniels

Tacoma, Wash., Dec. 1 - Barclays Bank plc plans to price 0% autocallable optimization securities with contingent protection due Dec. 11, 2015 linked to the SPDR S&P 500 ETF trust, according to an FWP filing with the Securities and Exchange Commission.

If the trust closes at or above its initial price on any of 17 quarterly observation dates, the notes will be called and investors will receive par of $10 plus an annualized return of 8% to 9%. The first observation date will be Dec. 13, 2011.

If the notes are not called, the payout at maturity will be par if the final price is at least 60% of the initial price. Otherwise, investors will receive par plus the trust return.

The notes (Cusip 06740P726) are expected to price Dec. 6 and settle Dec. 9.

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

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