By Susanna Moon
Chicago, Dec. 26 – Barclays Bank plc priced $4.6 million of callable range accrual securities due May 29, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate of 6.45% for each day that the index closes at or above its 80% coupon barrier. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for every 1% that the index declines beyond 20%.
The notes will be callable at par on any interest payment date after one year.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Callable range accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $4.6 million
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| Maturity: | May 29, 2026
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| Coupon: | 6.45% annualized for each day that index closes at or above coupon barrier; payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for every 1% decline beyond 20%
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| Call option: | At par on any interest payment date after one year
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| Initial index level: | 1,492.86
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| Coupon barrier: | 1,194.29, 80% of initial level
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Underwriter: | Barclays
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| Fees: | 4%
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| Cusip: | 06746XXM0
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