New Issue: Barclays prices $13.23 million market-linked step-up notes on S&P 500

By Susanna Moon

Chicago, Oct. 2 - Barclays Bank plc priced $13.23 million of market-linked step-up notes due Sept. 26, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up value - 120.95% of the initial level - the payout at maturity will be par plus the gain.

If the index finishes at or above the initial level but below the step-up value, the payout will be par plus a step-up payment of 20.95%.

Investors will be exposed to any losses.

Bank of America Merrill Lynch is the agent.

Issuer:	Barclays Bank plc
Issue:	Market-linked step-up notes
Underlying index:	S&P 500
Amount:	$13,232,600
Maturity:	Sept. 26, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes above step-up value, par plus return; if index finishes at or above initial level and up to step-up value, par plus 20.95%; exposure to any losses
Initial level:	1,447.15
Step-up value:	1,750.33, 120.95% of initial level
Pricing date:	Sept. 27
Settlement date:	Oct. 4
Agent:	Bank of America Merrill Lynch
Fees:	2%
Cusip:	06738G225

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