Barclays plans 9.25%-11.25% trigger phoenix autocallables on Citigroup

By Susanna Moon

Chicago, March 20 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Sept. 30, 2014 linked to Citigroup Inc. 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 9.25% to 11.25% if the price of Citigroup stock closes at or above the 80% trigger level on the observation date for that quarter.

If the stock closes at or above the initial price on any of quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and the Citigroup share price finishes at or above the trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be exposed to any losses.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on March 26 and settle on March 28.

The Cusip number is 06742C566.

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