New Issue: Barclays prices $500,000 dual range accrual notes linked to Libor, S&P 500

By Angela McDaniels

Tacoma, Wash., Feb. 8 - Barclays Bank plc priced $500,000 of fixed-rate dual range accrual notes due Feb. 28, 2028 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 6% per year multiplied by the proportion of days on which six-month Libor is 6% or less and the index's closing level is greater than or equal to 1,132.04, which is 75% of the initial index level. Interest is payable quarterly.

The payout at maturity will be par.

Beginning Feb. 28, 2014, the notes will be callable at par on any interest payment date.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Fixed-rate dual range accrual notes
Underlyings:	Six-month Libor and S&P 500 index
Amount:	$500,000
Maturity:	Feb. 28, 2028
Coupon:	6% per year multiplied by proportion of days on which six-month Libor is 6% or less and S&P 500 closes at or above index barrier; payable quarterly
Price:	Variable prices
Payout at maturity:	Par
Initial index level: 1,509.39
Index barrier:	1,132.04, 75% of initial level
Pricing date:	Feb. 7
Settlement date:	Feb. 28
Agent:	Barclays
Fees:	3%
Cusip:	06741TNT0

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.