Barclays plans Knock-Out Buffered Super Track Notes linked to S&P 500

By Jennifer Chiou

New York, Jan. 7 - Barclays Bank plc plans to price 0% Knock-Out Buffered Super Track Notes due Jan. 22, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index ever closes above the knock-out barrier, 122% of the initial level, investors will receive par plus 2.5%.

If the index always stays at or below the knock-out barrier, investors will receive par plus double any index gain, up to a maximum return of 22%. Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.

The notes will price on Jan. 16 and settle on Jan. 22.

Barclays Capital Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.