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Barclays plans callable step-up range accrual notes on two indexes
By Marisa Wong
Madison, Wis., April 13 – Barclays Bank plc plans to price callable step-up range accrual notes due April 30, 2025 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at the above barrier rate for each day that each index closes at or above the coupon barrier level, 72.5% of the initial level. Interest will be payable quarterly. The above barrier rate per quarter is 2.25% for the first four years, stepping up to 2.75% after April 2019 and to 3.25% after April 2023.
The payout at maturity will be par if the index falls by up to 50%, and investors will be exposed to any losses beyond 50%.
The notes will be callable at par on any interest payment date after one year.
Barclays is the agent.
The notes will price April 27 and settle April 30.
The Cusip number is 06741UTS3.
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