Barclays plans principal at risk floating-rate notes on CPI, Russell

By Marisa Wong

Madison, Wis., Jan. 2 - Barclays Bank plc plans to price principal at risk floating-rate notes due Jan. 24, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be equal to the year-over-year change in the Consumer Price Index plus a spread of 250 basis points, subject to a minimum rate of 0%. Interest is payable monthly.

The payout at maturity will be par unless the final level of the Russell 2000 is less than 50% of its initial level, in which case the payout will be par plus the index return with full exposure to losses.

The notes (Cusip: 06741T4B0) are expected to price on Jan. 21 and settle on Jan. 24.

Barclays is the agent.

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