On the basis of local stability analysis we have studied how the surface-like elastic terms influence periodic splay-twist Freedericksz transition in a nematic liquid crystal (NLC) sandwiched between two parallel plates. It is assumed that the planar anchoring favored at both walls and magnetic field is normal to the confining surfaces. Assuming stability of the director ground state in the zero field limit, restrictions on elastic constants are obtained. The critical ratio of the twist and splay elastic constants is calculated as a function ofK24. It is found that there is a critical value ofK24, such that the transition is suppressed underK24exceeds this value. Effects of anchoring energy and theK13- term are discussed.