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Barclays plans 10-year callable range accrual notes tied to Russell
By Marisa Wong
Madison, Wis., June 28 - Barclays Bank plc plans to price callable range accrual notes due July 31, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 8.15% for the first year. After that, it will accrue at 8.15% to 8.65% for each day that the index closes at or above the 75% barrier level. Interest will be payable quarterly, with the exact rate to be set at pricing.
The payout at maturity will be par if the index return is at least negative 50%, and investors will be fully exposed to any losses if the index falls below the 50% 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 July 26 and settle on July 31.
The Cusip number is 06741TYA9.
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