Barclays plans 7%-8% autocallable notes on Russell, iShares FTSE China

By Marisa Wong

Madison, Wis., June 11 - Barclays Bank plc plans to price 7% to 8% autocallable yield notes due Dec. 26, 2014 linked to the Russell 2000 index and the iShares FTSE China 25 index fund, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be automatically called at par plus accrued interest if the underlying components close above their initial levels on any quarterly observation date.

A knock-in event occurs if either component closes below the knock-in barrier, 70% of the initial level, on any trading day during the life of the notes.

If a knock-in event does not occur or if it does occur and the return of the lesser performing component is zero or positive, investors will receive par at maturity. Otherwise, investors will be fully exposed to the decline of the lesser performing component.

The notes (Cusip: 06741TWR4) are expected to price June 21 and settle June 26.

Barclays is the agent.

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