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Correction: Barclays’ barrier level for Russell 2000 index is 735.38
By Angela McDaniels
Tacoma, Wash., Aug. 13 – The barrier level for the Russell 2000 index in Barclays Bank plc’s $4 million of callable contingent payment notes due Aug. 13, 2024 is 735.38, according to an amended 424B2 filing with the Securities and Exchange Commission.
The company announced the terms of the notes on Tuesday and filed the amended 424B2 on Wednesday.
As previously reported, the notes are linked to the worst performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 10.65% if each index closes at or above its barrier level, 65% of its initial level, on the valuation date for that quarter.
The payout at maturity will be par unless the lowest performing index finishes below its barrier level, in which case investors will be fully exposed to the decline of that index from its initial level.
The notes are callable at par on any interest payment date.
Barclays is the agent.
The notes priced Aug. 8 and settled Aug. 13.
The Cusip number is 06741UHG2.
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