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Barclays to price callable range accrual notes linked to Russell 2000
By Sarah Lizee
Olympia, Wash., Aug. 15 – Barclays Bank plc plans to price callable range accrual notes due Aug. 30, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at the rate of 5.05% per year multiplied by the proportion of days on which the index closes at or above the coupon barrier value, 85% of the initial index level.
After one year, the notes will be callable at par on any interest payment date.
The payout at maturity will be par unless the index declines by more than 15%, in which case investors will lose 1% for every 1% that the index declines beyond 15%.
Barclays is the agent.
The notes will price on Aug. 27.
The Cusip number is 06747NCE2.
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