By Susanna Moon
Chicago, June 3 - Barclays Bank plc priced $500,000 of autocallable range accrual notes due June 10, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par on any quarterly review date if the index closes at or above its initial level.
Interest will accrue at 6.5% for each day that the index closes at or above the 80% barrier level. Interest will be payable quarterly.
The payout at maturity will be par if the index falls by up to 20%.
Otherwise, investors will lose 1.25% decline beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $500,000
|
| Maturity: | June 10, 2016
|
| Coupon: | 6.5% for each day that index closes at or above barrier level; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by up to 20%; 1.25% loss per 1% beyond 20%
|
| Call: | At par on any interest payment date if index closes at or above initial level
|
| Initial index level: | 994.43
|
| Barrier level: | 795.54, 80% of initial level
|
| Pricing date: | May 30
|
| Settlement date: | June 4
|
| Agent: | Barclays
|
| Fees: | 0.1%
|
| Cusip: | 06741TWB9
|
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