Barclays to price 8.5%-10.5% autocallable yield notes tied to S&P 500, U.S. Natural Gas Fund

By Angela McDaniels

Tacoma, Wash., March 15 - Barclays Bank plc plans to price autocallable yield notes due Sept. 22, 2011 linked to the S&P 500 index and the United States Natural Gas Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will carry an annualized coupon of 8.5% to 10.5%. The exact coupon will be set at pricing. Interest will be payable monthly.

The notes will be called at par if each underlying component closes at or above its initial level on May 17 or July 19.

If the notes are not called, the payout at maturity will be par unless either underlying component closes below 75% 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: 06738KEJ6) are expected to price March 18 and settle March 23.

Barclays Capital Inc. is the agent.

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