New Issue: Barclays prices $3.4 million autocallable range accrual notes linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., May 22 - Barclays Bank plc priced $3.4 million of autocallable range accrual notes due June 2, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 6.5% per year multiplied by the proportion of days on which the index closes at or above the barrier level, which is 80% of the initial index level. Interest is payable quarterly.

If the index return is greater than or equal to negative 20%, the payout at maturity will be par. Otherwise, investors will lose 1.25% for each 1% that the index declines beyond 20%.

Beginning May 27, 2014, the notes will be called at par if the index closes at or above its initial level on any quarterly early redemption date.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable range accrual notes
Underlying index:	Russell 2000
Amount:	$3,404,000
Maturity:	June 2, 2016
Coupon:	6.5% per year multiplied by proportion of days on which index closes at or above barrier level; payable quarterly
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 20%, par; otherwise, 1.25% loss for each 1% that index declines beyond 20%
Call:	Automatically at par if index closes at or above initial level on May 27, 2014, Aug. 27, 2014, Nov. 28, 2014, Feb. 27, 2015, May 27, 2015, Aug. 27, 2015, Nov. 27, 2015 or Feb. 29, 2016
Initial index level:	997.98
Trigger level:	798.38, 80% of initial level
Pricing date:	May 20
Settlement date:	May 23
Agent:	Barclays
Fees:	0.1%
Cusip:	06741TVN4

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