New Issue: Barclays prices $287,000 callable range accrual notes linked to Russell

By Sarah Lizee

Olympia, Wash., Aug. 28 – Barclays Bank plc priced $287,000 of callable range accrual notes due Aug. 29, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% per year multiplied by the proportion of days on which the index closes at or above its coupon barrier level, 85% of the initial level. Interest is payable monthly.

The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for every 1% that the index declines beyond 15%.

The notes will be callable at par on any interest payment date after one year.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable range accrual notes
Underlying index:	Russell 2000 index
Amount:	$287,000
Maturity:	Aug. 29, 2024
Coupon:	4% per year multiplied by proportion of days on which index closes at or above coupon barrier; payable monthly
Price:	Par
Payout at maturity:	Par unless index falls by more than 15%, in which case 1% loss for every 1% decline beyond 15%
Call option:	At par on any interest payment date after one year
Initial index level:	1,560.19
Coupon barrier:	1,326.16, 85% of initial level
Pricing date:	Aug. 26
Settlement date:	Aug. 31
Underwriter:	Barclays
Fees:	3.25%
Cusip:	06747QDG9

© 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.