By Kiku Steinfeld
Chicago, Feb. 2 – Barclays Bank plc priced $4.3 million of callable range accrual notes due Jan. 31, 2023 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will accrue at 4% per year multiplied by the proportion of days on which the index closes at or above the coupon barrier level, which is 85% of the initial level. Interest is payable monthly.
If the final index level is greater than or equal to the 85% buffer level, the payout at maturity will be par. Investors will lose 1% for each 1% loss below the buffer.
After one year, the notes will be callable at par on any interest payment date.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $4,301,000
|
| Maturity: | Jan. 31, 2023
|
| 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 finishes below buffer level; 1% for every 1% loss beyond buffer
|
| Call option: | At par on any interest payment date after one year
|
| Initial index level: | 2,149.86
|
| Coupon barrier/buffer level: | 1,827.38, 85% of initial level
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 29
|
| Agent: | Barclays
|
| Fees: | 2.75% %
|
| Cusip: | 06747QVC8
|
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