Barclays plans annual autocallable notes on SPDR S&P MidCap, Russell

By Marisa Wong

Madison, Wis., Sept. 5 - Barclays Bank plc plans to price 0% annual autocallable notes due Sept. 29, 2016 linked to the lesser performing of the SPDR S&P MidCap 400 exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of at least 10.3% per year if both components close at or above their initial levels on any of three annual call valuation dates. The actual call price will be set at pricing.

If the notes are not called and the final level of the lesser-performing component is at least 80% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the lesser-performing component from its initial level.

The notes (Cusip: 06741TH75) are expected to price Sept. 25 and settle Sept. 30.

Barclays is the agent.

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