New Issue: Barclays prices $878,000 annual autocallable notes linked to S&P 500

By Jennifer Chiou

New York, June 8 - Barclays Bank plc priced $878,000 of annual autocallable notes due June 7, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above its initial level on any of three call valuation dates, the notes will be automatically called at par plus a call premium. The call premium is 12% if the notes are called on June 10, 2011, 24% if the notes are called on June 4, 2012 and 36% if the notes are called on June 4, 2013.

If the notes are not called and the index falls by up to 70%, the payout at maturity will be par. If the index falls below the protection level, investors will share fully in losses.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Annual autocallable notes
Underlying index:	S&P 500
Amount:	$878,000
Maturity:	June 7, 2013
Coupon:	0%
Price:	Par
Call:	Automatically at par plus call premium if index closes at or above initial level on any of three valuation dates
Call premium:	12% if called on June 10, 2011; 24% if called on June 4, 2012; 36% if called on June 4, 2013
Payout at maturity:	If notes are not called, par if index falls by up to 70% and full exposure to losses if index falls beyond 70%
Initial index level:	1,064.88
Pricing date:	June 4
Settlement date:	June 9
Agents:	Barclays Capital Inc.
Fees:	2%
Cusip:	06740LXX8

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