Barclays to sell autocallable yield notes on lesser of S&P, Russell

By Marisa Wong

Madison, Wis., Jan. 5 - Barclays Bank plc plans to price autocallable yield notes due Jan. 16, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is expected to be at least 7% to 10.5% per year and will be set at pricing. Interest will be payable monthly.

The notes will be called at par if each index closes at or above its initial level on any of the quarterly valuation dates.

If the notes are not called, the payout at maturity will be par unless either index closes below 65% of its initial level at any time during the life of the notes. In that case, the payout will be par plus the return of the worse performing index, subject to a maximum payout of par.

The notes (Cusip: 06738KF89) are expected to price on Jan. 13 and settle on Jan. 19.

Barclays Capital Inc. is the agent.

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