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Barclays plans annual reset coupon buffered notes linked to Russell
By Susanna Moon
Chicago, Jan. 5 – Barclays Bank plc plans to price annual reset coupon buffered notes due Jan. 28, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be the maximum digital rate of 5.3% to 5.8% if the index gains or stays flat for that year. Otherwise, the coupon will be the minimum digital rate of 3% to 3.25%. The return will be measured from its level a year earlier. Interest is payable annually, with the exact rates to be set at pricing.
The payout at maturity will be par unless the index finishes below the 85% buffer level, in which case investors will lose 1% for each 1% decline beyond 15%.
Barclays is the agent.
The notes will price on Jan. 26 and settle on Jan. 29.
The Cusip number is 06741U2G8.
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