New Issue: Barclays prices $4.4 million callable range accrual notes linked to S&P

By Wendy Van Sickle

Columbus, Ohio, April 8 – Barclays Bank plc priced $4.4 million of callable range accrual notes due Sept. 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% per year multiplied by the proportion of days on which the index closes at or above its coupon barrier level, 85% of the initial level. Interest is payable monthly.

The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for every 1% that the index declines beyond 15%.

The notes will be callable at par on any interest payment date after one year.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable range accrual notes
Underlying index:	S&P 500
Amount:	$4,403,000
Maturity:	Sept. 29, 2022
Coupon:	4% per year multiplied by proportion of days on which index closes at or above coupon barrier; payable monthly
Price:	Par
Payout at maturity:	Par unless index falls by more than 15%, in which case 1% loss for every 1% decline beyond 15%
Call option:	At par on any interest payment date after one year
Initial index level:	3,974.54
Coupon barrier:	3,378.36, 85% of initial level
Pricing date:	March 26
Settlement date:	March 31
Underwriter:	Barclays
Fees:	2.25%
Cusip:	06748EDF7

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