Runecraft

You can make charms that include 1 to 5 runes. The amount of runes
you can string in a single charm is determined by your level. Only level
50 runecasters can make 5-charm runes.

There are some things of which to take note:

• The Thurisaz (AC) rune may only be included once
• Runes by default have -5 AC. Thurisaz can bring this up to -8
• Runes that provide a specific effect (like SNEAK, or DETECT INVIS)
  may be included more than once, but the effect will only appear
  once on the item
• The charms can be worn in either the WRIST or the NECK slot
• The resultant charm is magical and can be repaired with trueform
• Example syntax: runecraft charm ansuz 1.ehwaz 2.ehwaz 1.eihwaz 2.eihwaz

The base rent value for a charm is 225 (actual more likely 224.5) plus the rent cost of each charm.
Rent values above are rounded to nearest whole number, so total rent of 5 charms may vary. Yes, Ingwaz currently really does cost 0 rent.

Here is an example of a 4 kenaz, 1 ingwaz charm.

You look closely, inspecting a runic charm of kenaz, kenaz, ingwaz, kenaz and kenaz. Here is what you can discern ...

It is of item type ARMOR.
You find it weighs 0.50 kg.
You may wear this in the NECK slot.
You may wear this in the WRIST slot.
You determine it will cost 2025 in rent to keep it in your possession.
You note that it is made mostly of stone.
No shopkeeper in their right mind would buy this item.
This item will modify your armor class by -5.
You may bond this item to you if it has not already been bonded to another.
This item will modify your hit point regen by 8.
This item will modify your move regen by 4.

*this charm also provides SNEAK from the ingwaz rune but doesn't show up in identify object.