Barclays plans to price annual autocallable notes linked to S&P 500

By Jennifer Chiou

New York, May 28 - Barclays Bank plc plans to price 0% annual autocallable notes due June 28, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of 8% to 13% per year if the index closes at or above its initial level on July 1, 2011, June 25, 2012 or June 25, 2013. The exact call premium will be set at pricing.

If the notes are not called, the payout at maturity will be par if the index finishes at or above 70% of the initial index level. Otherwise, investors will receive par plus the index return.

The notes will price on June 25 and settle on June 30.

Barclays Capital Inc. is the agent.

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