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Barclays plans annual reset coupon buffered notes tied to Russell 2000
By Toni Weeks
San Luis Obispo, Calif., Oct. 3 - Barclays Bank plc plans to price annual reset coupon buffered notes due Oct. 31, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be the maximum digital rate of 6.25% to 7% if the index closes at or above its initial level for each annual observation period. Otherwise, the coupon will be the minimum digital rate of 2% to 2.25%. Interest is payable annually and will be set at pricing.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for every 1% decline beyond the 20% buffer.
The notes (Cusip: 06741TQ34) are expected to price Oct. 29 and settle Oct. 31.
Barclays is the agent.
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