She was named for Hugh Palliser, who served during the Seven Years' War and was First Naval Lord during the American War of Independence The Blackwood class displaced 1,180 long tons (1,200 t) at standard load and 1,456 long tons (1,479 t) at deep load.

The turbine developed a total of 15,000 shaft horsepower (11,000 kW) and gave a maximum speed of 27 knots (50 km/h; 31 mph).

The first four ships to be completed, including Blackwood, were fitted with two above-water twin mounts for 21-inch (533 mm) anti-submarine homing torpedoes, but these were removed in the early 1960s.

[3] Palliser was laid down at Alexander Stephen and Sons' Linthouse, Glasgow shipyard on 15 March 1955.

Initial attempts to tow the frigate from Portsmouth were delayed by fog, and when on 9 February 1983, the tug Alnwick took Palliser in tow, Alnwick collided with Palliser, damaging the tug and forcing the two ships into Plymouth for repairs.