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Barclays plans annual reset coupon buffered notes tied to Russell 2000
By Jennifer Chiou
New York, June 7 - Barclays Bank plc plans to price annual reset coupon buffered notes due June 28, 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% 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 1.7% to 2%. Interest is payable annually. The exact percentages 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: 06741TWJ2) are expected to price on June 26 and settle on June 28.
Barclays will be the agent.
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