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Barclays plans one-year 8% callable yield notes tied to S&P, Russell
By Susanna Moon
Chicago, Jan. 12 - Barclays Bank plc plans to price 8% callable yield notes due Jan. 31, 2012 based on the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless either underlying index closes at or below 80% of its initial level during the life of the notes, in which case investors will receive par plus the return of the worst performing underlying index, up to a maximum payout of par.
The notes will be callable at par on any interest payment date in April 2011, July 2011 or October 2011.
The notes (Cusip 06741JBT5) are expected to price on Jan. 26 and settle on Jan. 31.
Barclays Capital Inc. is the agent.
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