New Issue: Barclays prices $600,000 12.5% autocallable yield notes linked to mining ETF, S&P 500

By Angela McDaniels

Tacoma, Wash., June 17 - Barclays Bank plc priced $600,000 of autocallable yield notes due Dec. 21, 2011 linked to the S&P 500 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes carry a coupon of 12.5% per year. Interest is payable monthly.

The notes will be called at par if both underlying components close above their initial levels on Sept. 14.

The payout at maturity will be par unless either underlying component falls below its knock-in barrier - 75% of its initial level - during the life of the notes, in which case the payout will be par plus the return of the worst-performing underlying component, subject to a maximum payout of par.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable yield notes
Underlying components:	S&P 500 index and SPDR S&P Metals & Mining ETF
Amount:	$600,000
Maturity:	Dec. 21, 2011
Coupon:	12.5%, payable monthly
Price:	Par
Payout at maturity:	If either underlying component ever falls below knock-in barrier, par plus return of worst-performing underlying component, subject to maximum payout of par; otherwise, par
Call:	At par if each underlying component closes above initial level on Sept. 14.
Initial levels:	1,265.42 for index and $64.18 for ETF
Knock-in barriers:	949.07 for index and $48.14 for ETF; 75% of initial levels
Pricing date:	June 15
Settlement date:	June 20
Agent:	Barclays Capital Inc.
Fees:	None
Cusip:	06738KMC2

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