Barclays to price 8.25%-10.25% autocallable yield notes linked to Russell 2000, mining ETF

By Angela McDaniels

Tacoma, Wash., April 7 - Barclays Bank plc plans to price autocallable yield notes due April 19, 2012 linked to the Russell 2000 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is expected to be 8.25% to 10.25% and 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 any of three call valuation dates, which will fall in July, October and January 2012.

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: 06738KGU9) are expected to price April 15 and settle April 20.

Barclays Capital Inc. is the agent.

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