Barclays to price 10%-11% autocallable yield notes linked to Russell 2000, U.S. Natural Gas Fund

By Jennifer Chiou

New York, May 13 - Barclays Bank plc plans to price 10% to 11% autocallable yield notes due May 18, 2012 linked to the Russell 2000 index and the United States Natural Gas Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if each underlying component closes at or above its initial level on any of the call valuation dates: Aug. 19, Nov. 19, 2011 and Feb. 19, 2012.

If the notes are not called, the payout at maturity will be par unless either underlying component closes below 70% of its initial level during the life of the notes. In that 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: 06738KKH3) are set to price on May 16 and settle on May 19.

Barclays Capital Inc. is the agent.

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