Barclays plans 10.25% autocallable yield notes on S&P 500, two funds

By Marisa Wong

Madison, Wis., Aug. 5 - Barclays Bank plc plans to price 10.25% annualized autocallable yield notes due Feb. 13, 2012 linked to the S&P 500 index, the United States Oil Fund, LP and the United States Natural Gas Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each underlying component closes above its initial level on Oct. 11 or Dec. 11.

The payout at maturity will be par unless any underlying component falls below its knock-in barrier - 72% 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.

The notes (Cusip: 06738KRP8) will price on Aug. 8 and settle on Aug. 11.

Barclays Capital Inc. is the agent.

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