Barclays plans 9%-11% autocallable yield notes linked to indexes, ETF

By Angela McDaniels

Tacoma, Wash., June 6 - Barclays Bank plc plans to price autocallable yield notes due Dec. 20, 2011 linked to the Russell 2000 index, the S&P 500 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will carry a coupon of 9% to 11% per year that will be set at pricing. Interest will be payable monthly.

The notes will be called at par if each underlying component closes at or above its initial level on either of two call valuation dates, which will fall in August and October.

If the notes are not called, the payout at maturity will be par unless any underlying component closes below 80% of its initial level during the life of the notes. In that case, the payout will be par plus the return of the worst-performing underlying component, subject to a maximum payout of par.

The notes (Cusip: 06738KLJ8) are expected to price June 15 and June 20.

Barclays Capital Inc. is the agent.

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