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Barclays plans return optimization notes linked to S&P 500 via UBS
By Susanna Moon
Chicago, Aug. 16 - Barclays Bank plc plans to price 0% return optimization securities with partial protection due Feb. 28, 2012 based on the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
The payout at maturity will be par of $10.00 plus double any gain in the index, up to a maximum payout of $11.60 to $11.90 per note. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
The notes (Cusip 06740L261) will price on Aug. 26 and settle on Aug. 31.
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