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Barclays plans six-year callable range accrual notes linked to Russell
By Susanna Moon
Chicago, June 7 - Barclays Bank plc plans to price callable range accrual notes due June 28 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7% to 7.25% for each day that the index closes at or above the 70% barrier level. Interest will be payable monthly, with the exact rate to be set at pricing.
The payout at maturity will be par if the index falls by up to 30%, and investors will be fully exposed to any losses if the index falls below the 70% trigger level.
The notes will be callable at par on any interest payment date after one year.
Barclays is the agent.
The notes will price on June 25 and settle on June 28.
The Cusip number is 06741TWU7.
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