Barclays plans 9.5%-11.5% autocallable yield notes on S&P 500, fund

By Jennifer Chiou

New York, Jan. 4 - Barclays Bank plc plans to price 9.5% to 11.5% autocallable yield notes due Jan. 27, 2014 linked to the S&P 500 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called automatically at par plus accrued interest if either component closes at or above its initial level on any of the three call valuation dates, which are April 23, July 23, 2013 and Oct. 23, 2013.

A knock-in event will occur if either component falls below the knock-in level, 75% of the initial level, on any trading day.

If a knock-in event does not occur or if it does and the return of the least-performing component is zero or positive, investors will receive par at maturity.

If a knock-in event occurs and the return of the least-performing component is negative, investors will share in those losses.

The notes (Cusip: 06741TMJ3) are expected to price on Jan. 23 and settle on Jan. 28.

Barclays is the agent.

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