By Toni Weeks
San Luis Obispo, Calif., May 30 - Barclays Bank plc priced $2.38 million of callable buffered range accrual notes due Feb. 28, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6% for each day that the index closes at or above the 80% barrier level. Interest will be payable monthly.
The payout at maturity will be par if the index falls by up to 20%, and investors will be exposed to any losses beyond 20%.
The notes will be callable at par on any interest payment date beginning May 28, 2014.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable buffered range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2.38 million
|
| Maturity: | Feb. 28, 2019
|
| Coupon: | 6% times proportion of days on which index closes at or above coupon barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by up to 20%; exposure to losses beyond 20% buffer
|
| Call option: | At par on any interest payment date beginning May 28, 2014
|
| Initial index level: | 997.35
|
| Coupon barrier level: | 797.88, 80% of initial level
|
| Pricing date: | May 28
|
| Settlement date: | May 31
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06741TUJ4
|
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