By Sarah Lizee
Olympia, Wash., Sept. 30 – Barclays Bank plc priced $4.25 million of callable range accrual notes due March 31, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5.05% per year multiplied by the proportion of days on which the index closes at or above its coupon barrier level, 80% of the initial level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for every 1% that the index declines beyond 20%.
The notes will be callable at par on any interest payment date after one year.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $4.25 million
|
| Maturity: | March 31, 2027
|
| Coupon: | 5.05% per year multiplied by proportion of days on which index closes at or above coupon barrier; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for every 1% decline beyond 20%
|
| Call option: | At par on any interest payment date after one year
|
| Initial index level: | 2,984.87
|
| Coupon barrier: | 2,387.90, 80% of initial level
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Underwriter: | Barclays
|
| Fees: | 4%
|
| Cusip: | 06747NGE8
|
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