Published on 3/4/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.95 million callable range accrual buffered notes linked to Russell
Chicago, March 4 – Barclays Bank plc priced $1.95 million of callable range accrual buffered notes due March 3, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 7.5% per year, payable monthly based on a calculation that multiplies the proportion of days on which the index closes at or above its coupon barrier level, 85% of the initial level during the valuation period.
The notes will be callable at par on any interest payment date after one year.
The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for every 1% that the index declines beyond 15%. Interest will be paid at maturity for either scenario.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable range accrual buffered notes
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Underlying index: | Russell 2000 index
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Amount: | $1,945,000
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Maturity: | March 3, 2027
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Coupon: | 7.5% per year, payable monthly based on a calculation that multiplies the proportion of days on which the index closes at or above its coupon barrier level during the valuation period
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 15%, in which case 1% loss for every 1% decline beyond 15%
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Call option: | At par on any monthly interest payment date after one year
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Initial index level: | 2,028.968
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Coupon barrier: | 1,724.62, 85% of initial level
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Pricing date: | Feb. 26
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Settlement date: | Feb. 29
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Underwriter: | Barclays
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Fees: | 2.5%
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Cusip: | 06745PTZ4
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