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Barclays to price capped trigger gears due 2023 tied to S&P 500
By Sarah Lizee
Olympia, Wash., Aug. 24 – Barclays Bank plc plans to price 0% capped trigger gears due Aug. 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 2 times any index gain, capped at $12.45 to $12.75 per $10.00 note.
If the index finishes flat or falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the index declines below the initial level.
UBS Financial Services Inc. and Barclays are the agents.
The notes will price on Aug. 26.
The Cusip number is 06747K407.
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