Barclays to price one-year autocallable notes linked to palladium

By Toni Weeks

San Diego, Aug. 16 - Barclays Bank plc plans to price 0% autocallable notes due Aug. 28, 2013 linked to palladium, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized call return of 10.5% if the price of palladium closes at or above the initial price on any of four quarterly review dates. The review dates are Nov. 19, Feb. 18, 2013, May 17, 2013 and Aug. 23, 2013.

If the notes are not called, the payout at maturity will be par if the palladium price finishes at or above 85% of the initial price.

Otherwise, investors will be fully exposed to losses from the initial price.

The notes (Cusip: 06741TEP8) are expected to price Aug. 17 and settle Aug. 22.

Barclays will be the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.

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