Barclays to price dual range accrual notes linked to Libor, S&P 500

By Toni Weeks

San Luis Obispo, Calif., Feb. 7 - Barclays Bank plc plans to price callable fixed-rate dual range accrual notes due Feb. 28, 2028 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be the inside range rate multiplied by the proportion of days on which six-month Libor is 6% or below and the index's closing level is greater than or equal to the index barrier. The index barrier will be determined at pricing and will not exceed 75% of the initial index level. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning Feb. 28, 2014, the notes will be callable at par on any interest payment date.

The notes will settle Feb. 28.

Barclays is the agent.

The Cusip number is 06741TNT0.

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