Barclays plans 11% to 14% autocallable yield notes on Russell, funds

By Jennifer Chiou

New York, Sept. 1 - Barclays Bank plc plans to price 11% to 14% autocallable yield notes due Sept. 20, 2012 linked to the Russell 2000 index, the iShares MSCI Brazil index fund and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each underlying component closes above its initial level on Dec. 21, 2011, March 21, 2012 or June 21, 2012.

The payout at maturity will be par unless any underlying component falls below its knock-in barrier - 60% of its initial level - during the life of the notes, in which 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: 06738KTG6) will price on Sept. 16 and settle on Sept. 21.

Barclays Capital Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.