Barclays plans callable seven-year range accrual notes tied to S&P 500

By Susanna Moon

Chicago, March 6 - Barclays Bank plc plans to price callable buffered range accrual notes due March 31, 2021 linked to the S&P 500 index, according to an 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at 5.25% for each day that the index closes above the 80% barrier level. Interest is payable monthly.

The payout at maturity will be par if the index falls by up to 20%.

Otherwise, investors will lose 1% for every 1% decline beyond 20%.

The notes will be callable at par on any interest payment date beginning March 31, 2021.

Barclays is the underwriter.

The notes will price on March 26 and settle on March 31.

The Cusip number is 06741T7E1.

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