New Issue: Barclays prices $600,000 callable range accrual notes linked to S&P 500

By Toni Weeks

San Diego, May 27 - Barclays Bank plc priced $600,000 of callable fixed-rate range accrual notes due May 29, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 6% for the first year. After that, the interest will be the per-year rate multiplied by the proportion of days on which the index closes at or above 1,050. The per-year rate will be 6% initially and will step up to 6.75% on May 31, 2016 and to 8% on May 31, 2021. Interest is payable quarterly.

The payout at maturity will be par.

After one year, the notes will be callable at par on any interest payment date.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable fixed-rate range accrual notes
Underlying index:	S&P 500
Amount:	$600,000
Maturity:	May 29, 2026
Coupon:	6% for the first year; after that, per-year rate times proportion of days on which index closes at or above 1,050. Initial per-year rate is 6%, steps up to 6.75% on May 31, 2016 and to 8% on May 31, 2021
Price:	Variable
Payout at maturity:	Par
Pricing dates:	May 25
Settlement date:	May 31
Agent:	Barclays Capital Inc.
Fees:	5%
Cusip:	06738KJF9

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.