Barclays plans to price notes due 2023 linked S&P 500, Russell 2000

By Sarah Lizee

Olympia, Wash., Sept. 10 – Barclays Bank plc plans to price 0% notes due Sept. 28, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index gains, the payout at maturity will be par plus 1.5 times any gain of the lesser performing index, with a maximum return of 37% to 43%.

If the lesser performing index falls by up to 5%, the payout will be par plus the return, with exposure to losses.

If the lesser performing index falls by more than 5%, investors will receive the minimum payment at maturity of $950 for each $1,000 of notes.

Barclays is the agent.

The notes will price on Sept. 25 and settle on Sept. 28.

The Cusip number is 06746XPR8.

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