This might be something a pivot table would be good for, but I've never used them, so I'll suggest something else...
Create a table somewhere, as you mentioned, with your thresholds. Say in AA1:AB10
AA1:AA10 = the lower limit (i.e. 0, 201, 301...)
AB1:AB10 = upper limit (i.e. 200, 300, 400...)
In your new column next to your data, use a VLOOKUP formula to look at your data (say in B1) and return the threshold it belongs to:
= VLOOKUP( B1, $AA$1:$AB$10, 1, TRUE)
Copy/drag the formula down. The above will result in either "0" or "201" or "301" for each value in column B. If this is all you use, the second column of your lookup table isn't necessary. However, if you want the result to be "0 - 200" or "201 - 300" then use this formula:
= VLOOKUP( B1,$AA$1:$AB$10, 1, TRUE)&" - " &VLOOKUP( B1,$AA$1:$AB$10, 2, TRUE)
The "2" tells it to return a result from the second column (AB). The TRUE tells it to match with B1 or the next closest but lower value. (FYI: FALSE demands an exact match only).