Barclays to price callable range accrual notes linked to Russell 2000

By Tali Rackner

Norfolk, Va., Nov. 5 – Barclays Bank plc plans to price callable range accrual notes due May 30, 2023 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at 7% per year multiplied by the proportion of days on which the index closes at or above the coupon barrier level, which is 80% of the initial level. Interest is payable monthly.

If the final index level is greater than or equal to the 80% buffer level, the payout at maturity will be par. Otherwise, investors will be fully exposed to losses.

After one year, the notes will be callable at par on any interest payment date.

Barclays is the underwriter.

The notes will price on Nov. 24 and settle on Nov. 30.

The Cusip number is 06741US21.

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