New Issue: Barclays prices $2.2 million buffered range accrual notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Aug. 29 - Barclays Bank plc priced $2.2 million of callable buffered range accrual notes due Aug. 30, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 5.3% per year multiplied by the proportion of days on which the index's closing level is greater than the barrier level, which is 80% of the initial index level. Interest is payable monthly.

If the final index level is greater than the barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines below the barrier level.

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

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable buffered range accrual notes
Underlying index:	S&P 500
Amount:	$2,202,000
Maturity:	Aug. 30, 2019
Coupon:	5.3% per year multiplied by proportion of days on which index's closing level is greater than barrier level; payable monthly
Price:	Par
Payout at maturity:	If final index level is greater than barrier level, par; otherwise, 1% loss for every 1% that index declines below barrier level
Call option:	At par on any interest payment date after one year
Initial index level:	1,630.48
Barrier level:	1,304.38, 80% of initial level
Pricing date:	Aug. 27
Settlement date:	Aug. 30
Agent:	Barclays
Fees:	4%
Cusip:	06741TA23

© 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.