Barclays to price callable range accrual notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Sept. 23 – Barclays Bank plc plans to price callable range accrual notes due Sept. 27, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a coupon at the rate of 5.55% per year multiplied by the proportion of days on which the index closes at or above the coupon barrier value, 80% of the initial index level.

After one year, the notes will be callable at par on any interest payment date.

The payout at maturity will be par unless the index declines by more than 20%, in which case investors will lose 1% for every 1% that the index declines beyond 20%.

Barclays is the agent.

The notes will price Sept. 24.

The Cusip number is 06747NHM9.

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