Barclays plans to price annual autocallable notes tied to Russell 2000

By Toni Weeks

San Diego, June 6 - Barclays Bank plc plans to price 0% annual autocallable notes due July 2, 2014 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above its initial level on any of three call valuation dates, the notes will be called at par plus a call premium. The call premium will be 9% to 12% on the first valuation date of July 2, 2012, par plus 18% to 24% on the second valuation date of June 27, 2013 and par plus 27% to 36% on the third valuation date of June 27, 2014. The exact call premium will be set at pricing.

If the notes are not called and the final index level is at least 80% of the initial level on the final valuation date, the payout at maturity will be par. Otherwise, investors will be fully exposed to losses.

The notes (Cusip: 06738KLR0) are expected to price June 27 and settle June 30.

Barclays Capital Inc. is the agent.

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