Barclays plans five-year annual reset coupon buffered notes on Russell

By Jennifer Chiou

New York, July 10 - Barclays Bank plc plans to price annual reset coupon buffered notes due July 31, 2018 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 4.75% to 5.75% 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 1.25%. 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 20%.

The notes (Cusip: 06741TYP6) are expected to price on July 26 and settle on July 31.

Barclays will be the agent.

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