Barclays plans annual reset coupon buffered notes tied to Russell 2000

By Jennifer Chiou

New York, Dec. 5 - Barclays Bank plc plans to price annual reset coupon buffered notes due Dec. 31, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be the maximum digital rate of 6% to 7% if the index return is zero or positive for an annual observation period. Otherwise, the coupon will be the minimum digital rate of 1.7% to 2%. Interest is payable annually, and the exact rates will be set at pricing.

The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for every 1% decline beyond the 20% buffer.

The notes (Cusip: 06741T2P1) are expected to price on Dec. 27 and settle on Dec. 31.

Barclays is the agent.

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