Barclays to price contingent payment notes linked to Russell 2000

By Toni Weeks

San Luis Obispo, Calif., June 13 - Barclays Bank plc plans to price contingent payment notes due June 19, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annualized rate of 7.9% to 8.25% if the index closes above the coupon barrier level, 75% of the initial level, on a quarterly valuation date. Otherwise, no coupon will be paid that quarter.

The payout at maturity will be par unless the index finishes below the 60% barrier level, in which case investors will be fully exposed to losses.

Barclays is the agent.

The notes (Cusip: 06741TXP7) will price June 14 and settle June 19.

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