Barclays plans annual reset coupon buffered notes linked to S&P 500

By Marisa Wong

Madison, Wis., Aug. 2 - Barclays Bank plc plans to price annual reset coupon buffered notes due Aug. 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 5.5% to 7.5% if the index closes at or above its initial level for each annual observation period. Otherwise, the coupon will be 3%. Interest is payable annually. The exact maximum digital percentage will be set at pricing.

The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for every 1% decline beyond the 15% buffer.

The notes (Cusip: 06741TDZ7) are expected to price Aug. 28 and settle Aug. 31.

Barclays will be the agent.

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