Barclays changes minimum coupon of annual reset notes tied to Russell

By Angela McDaniels

Tacoma, Wash., Jan. 3 - Barclays Bank plc now expects the minimum digital percentage for its upcoming annual reset coupon buffered notes due Jan. 31, 2020 linked to the Russell 2000 index to be 2.25% to 2.5%, according to a 424B2 filing with the Securities and Exchange Commission.

Previously, the issuer expected the minimum digital percentage to be 2.75% to 3%. It continues to expect the maximum digital percentage to be 6% to 7%. Both will be set at pricing.

Interest is payable annually and will equal the maximum digital percentage if the index's return for that year is positive or zero. Otherwise, the coupon will equal the minimum digital percentage. The index's return will be measured from its level a year earlier.

The payout at maturity will be par unless the final index level is less than 80% of the initial index level, in which case investors will lose 1% for every 1% that the index declines beyond 20%.

Barclays is the agent.

The notes will price Jan. 29 and settle Jan. 31.

The Cusip number is 06741T3X3.

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