Barclays plans range accrual notes liked to six-month Libor, S&P 500

By Angela McDaniels

Tacoma, Wash., March 24 - Barclays Bank plc plans to price fixed-rate callable range accrual notes due April 8, 2026 linked to six-month Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be 8% per year multiplied by the proportion of days on which the index closes at or above 925 and six-month Libor is 6.5% or less. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning April 8, 2012, the notes will be callable at par on any interest payment date.

The notes (Cusip: 06738KFM8) will price April 5 and settle April 8.

Barclays Capital Inc. is the agent.

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