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Barclays plans callable range accrual notes on S&P, six-month Libor
By Jennifer Chiou
New York, Aug. 31 - Barclays Bank plc plans to price callable range accrual notes due Sept. 20 , 2027 linked to the S&P 500 index and six-month Libor, according to an FWP with the Securities and Exchange Commission.
The coupon will be 6.5% per year multiplied by the proportion of days on which the index closes at or above the to-be-set index barrier of 965 to 1,025 and six-month Libor is 6.5% or less. Interest will be payable semiannually.
The payout at maturity will be par.
After one year, the notes will be callable at par on any interest payment date.
The notes (Cusip: 90261JJW4) will price on Sept. 14 and settle on Sept. 20.
Barclays Capital Inc. is the agent, and Morgan Stanley Smith Barney LLC is the dealer.
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