A multilayer film with an integrated peelable coupon that may be used as a packaging unit for products is described. The flexible, multilayer film has at least a first polymeric layer, indicia, a layer of release coating that is applied in a pattern to a portion of an interior surface of the first layer and a second polymeric layer which may be made in combination with additional layers. A removable portion of the film structure is provided by a pattern of perforations or slits through certain layers of film in alignment with the release coating pattern. The method of manufacturing the multilayer film with an integrated coupon includes providing a first polymeric layer as an outer layer, printing indicia, applying a layer of release coating in a pattern to a portion of an interior surface of the first layer, cutting slits through certain layers and laminating a second polymeric layer.