New York, Jan. 30 – Barclays Bank plc priced $2.9 million of callable buffered range accrual notes due July 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6% for each day that the index closes at or above the 80% barrier level. Interest will be payable monthly.
The payout at maturity will be par if the index falls by up to 20%, and investors will be exposed to any losses beyond 20%.
The notes will be callable at par on any interest payment date beginning in January 2016.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable buffered range accrual notes
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| Underlying index: | S&P 500
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| Amount: | $2.9 million
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| Maturity: | July 29, 2022
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| Coupon: | 6 % times proportion of days on which index closes at or above coupon barrier level; payable monthly
|
| Price: | Par
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| Payout at maturity: | Par if index falls by up to 20%; exposure to losses beyond 20% buffer
|
| Call option: | At par on any interest payment date after one year
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| Initial index level: | 2,029.55
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| Barrier level: | 1,623.64, 80% of initial level
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| Pricing date: | Jan. 27
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| Settlement date: | Jan. 30
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| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06741UPC2
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