A method is presented for making releasable transfer film suitable to provide a metalized embossed composite onto a paper substrate without a release layer between the composite and a polymeric carrier layer. The transfer film includes a polymeric base layer, an embossing material layer and a metal layer. The transfer film is bonded to the paper substrate with an adhesive layer allowing the polymeric barrier layer to peel away from and to expose the metal-backed, embossing material layer. The substrate covered with the metalized embossed composite can be used to impart holographic style images to packaging, printed media products such as magazines.