Barclays to price annual reset coupon buffered notes tied to S&P 500

By Marisa Wong

Madison, Wis., Aug. 31 - Barclays Bank plc plans to price annual reset coupon buffered notes due Sept. 18, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable annually and will equal a maximum digital percentage of 6.4% to 7% if the annual return for the index during the relevant period is positive. Otherwise, the coupon will equal a minimum digital percentage of 2% for that year. The exact maximum digital percentage will be set at pricing.

The payout at maturity will be par unless the final index level is less than 80% of the initial index level, in which case investors will lose 1% for every 1% decline below the buffer.

The notes (Cusip: 06738KUB5) are expected to price on Sept. 13 and settle on Sept. 16.

Barclays Capital Inc. is the agent.

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