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Barclays plans principal at risk capped floating-rate notes on Russell
By Jennifer Chiou
New York, Nov. 12 - Barclays Bank plc plans to price principal at risk Russell 2000 index-linked notes due Nov. 21, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be equal to Libor plus a to-be-set spread of 300 to 320 bps, subject to a minimum rate of 0% and a maximum rate of 6%. Interest is payable quarterly.
The payout at maturity will be par unless the final index level is less than 55% of the initial level, in which case the payout will be par plus the index return with full exposure to losses.
The notes (Cusip: 06741TX85) are expected to settle on Nov. 21.
Barclays is the agent.
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